Which of the following is NOT included in M1 or M2?
A. checking account balances
B. currency in circulation outside of commercial banks
C. traveler's checks
D. credit card balances
Answer: D
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If the real rate of interest is the same internationally, then the nominal interest rates differ solely by the expected inflation differential in two countries
Indicate whether the statement is true or false
The consumer is in equilibrium when
A) MRT = MRS. B) Px/Py = MUx/MUy C) the budget line is tangent to the indifference curve at the bundle chosen. D) All of the above.
When a per unit tax is imposed on the sale of a product of a monopolist, the resulting price increase will
A) always be less than the tax. B) always be more than the tax. C) always be less than if a similar tax were imposed on firms in a competitive market. D) not always be less than the tax.
All the following affect short-run operating targets of the FOMC, except:
a. the federal funds rate. b. the rate of inflation. c. the budget deficit. d. the foreign exchange rate. e. the growth of real GDP.