Figure 4.5 illustrates a set of supply and demand curves for hamburgers. A decrease in demand and a decrease in quantity supplied are represented by a movement from
A) point a to point c. B) point d to point b. C) point b to point c. D) point c to point a.
C
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Bank accounts and bonds are examples of money-fixed assets.
Answer the following statement true (T) or false (F)
The quantity theory of money assumes a constant ratio of ________
A) money demand to money supply B) money supply to nominal GDP C) money supply to real GDP D) real GDP to nominal GDP
Actions by the Second Bank of the United States:
a. reduced the discount rate on state bank notes. b. increased the discount rate on state bank notes. c. created inflation. d. effectively ended the use of state bank notes.
Under a gold standard, a balance of payments surplus automatically
A. raised interest rates. B. increased exports. C. increased domestic prices. D. decreased imports.