The value of M1 was
The Economic Report of the President estimated that for 1997, the US had the following money stock components (in billions): $426 in currency; $391.7 in checking account deposits; $8.2 in travelers checks; $242.8 in other checkable deposits; $963.7 in small denomination time deposits; $1395.4 in savings accounts; $591.5 in retail money market mutual funds; $579.2 in large time deposits; $235.9 in term repurchase agreements; $139.1 in Eurodollar accounts; and $359.5 in institutional money market mutual funds.
a) $434.2
b) $825.9
c) $1068.7
d) $2454.1
e) $3417.8
c) $1068.7
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If the CPI is 170 at the beginning of the year and 181 at the end, and a bank is paying a nominal interest rate of 6 percent, we see that
A) the real interest rate is positive and is less than 1 percent. B) the interest nominal rate is negative. C) the real interest rate is negative. D) the real interest rate is positive and is larger than 1 percent. E) the real interest rate is equal to zero.
Risk aversion implies that
A) individuals will not take on risk. B) investors must be compensated for about half of the risk they take on. C) investors must be compensated for the risk they take on. D) None of the above.
A small business owner earns $60,000 in revenue annually. The explicit annual costs equal $40,000. The owner could work for someone else and earn $25,000 annually. The owner's business profit is ________ and the economic profit is ________
A) $20,000, $5,000 B) $20,000, -$5,000 C) $25,000, -$5,000 D) $45,000, -$5,000
Dilbert's Incorporated produced 5,000,000 units of accounting software in 2010 . At the start of 2011 the pointy-haired boss reduced total annual hours of employment from 10,000 to 8,000 and production was 4,800,000 . These numbers indicate that productivity
a. fell by 4%. b. fell by 20%. c. rose by 12%. d. rose by 20%.