Which of the following statements is true?
A) Currency in circulation in any economy is likely to be equal to the total money supply in the economy.
B) Currency in circulation in any economy is likely to be less than the total money supply in the economy.
C) In the United States, currency in circulation accounts for less than 1% of the money supply.
D) In the United States, currency in circulation accounts for more than 50% of the total money supply.
B
You might also like to view...
Figure 10-7
?
In Figure 10-7, through which point must a horizontal demand curve pass to yield a long-run equilibrium?
A. A B. B C. C D. All of these are correct.
Which of the following statements is not correct?
a. Competitive markets tend to limit the impact of discrimination on wages. b. Differences in earnings of whites and blacks or men and women provide clear evidence of discrimination. c. Some differences in earnings are attributable to discrimination based on race, sex, or other factors. d. Profit-maximizing behavior can reduce discriminatory wage differentials.
Per capita GDP will always rise when:
A.) The population rises. B.) The rate of economic growth increases. C.) There is an increase in the rate at which the economy's labor force grows. D.) The rate of economic growth exceeds the rate of population growth.
When a baker exchanges a pie for dollars, this is an example of dollars serving as:
A. barter. B. a store of value. C. a medium of exchange. D. a unit of account.