Which of the following is not a component of the M1 money supply?
a. Demand deposits.
b. Large-denomination (more than $100) bills.
c. Interest-earning checking deposits.
d. Outstanding balances on credit cards.
d
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One of the benefits of money as a medium of exchange is that
A) it allows individuals to compare the relative value of goods. B) it allows for specialization that leads to economic efficiencies. C) over time it will become more valuable so that individuals can purchase more goods and services. D) it allows for private transactions such as trading vegetables for medical services.
Suppose inflation comes in the form of an across-the board increase in all prices by some percentage k. For a consumer with exogenous income operating in a 2-good world, this will cause the budget constraint to
A. rotate inward B. rotate outward C. shift out in a parallel way D. shift inward in a parallel way E. none of the above
The only way the standard of living of the average person in a country can increase is if ________ increases faster than ________
A) population; production B) population; income C) population; GDP per capita D) production; population
The Argon Bank has $8 million in deposits and $1,600,000 in reserves. If the required reserve ratio is 20%, excess reserves are equal to
A. zero. B. $80,000. C. $320,000. D. $640,000.