Other things constant, the quantity of money demanded varies inversely with the:
a. exchange rate.
b. commercial loan rate.
c. discount rate.
d. market interest rate.
d
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Once a government program is put into place, the employees of the bureau put in charge of administering the program _____
a. become profit maximizers b. begin working in the public interest c. start rent seeking d. become an interest group
If an individual who earns $20,000 pays $2,000 in taxes and another individual who earns $100,000 pays $10,000 in taxes, then these individuals are being taxed under a _______ tax system
a. toll b. regressive c. progressive d. proportional e. negative income
The regional Federal Reserve bank presidents are:
A. selected by the Federal Reserve Board of Directors. B. allowed to serve no more than two consecutive four-year terms. C. are responsible for overseeing the day-to-day actions of the regional banks. D. responsible for ensuring that money supply can adequately meet the demand for money.
The difference between the short run and the long run is
A. the short run is a period less than a year while the long run is a period greater than a year. B. economic and accounting profits are not equal in the short run but are equal in the long run. C. that in the short run at least one factor of production cannot be varied while in the long run all factors of production can be varied. D. economic profits are negative in the short run and positive in the long run.