The monetary base consists of
A) currency in circulation and Federal Reserve notes.
B) currency in circulation and the U.S. Treasury's monetary liabilities.
C) currency in circulation and reserves.
D) reserves and Federal Reserve Notes.
C
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When product prices increase slower than nominal wages increase, the real value of wages decreases
Indicate whether the statement is true or false
Suppose government spending rises by $120 billion. It follows that if private expenditures
A) rise by $120 billion, complete crowding out exists. B) fall by $100 billion, incomplete crowding out exists. C) remain unchanged, complete crowding out exists. D) rise by more than $120 billion, complete crowding out exists. E) b and c
Refer to the diagram above. The phases of the business cycle from points A to D are, respectively:
Expansion, recession, trough, peak Trough, recovery, expansion, peak Peak, recession, trough, expansion Peak, recession, expansion, trough
A decrease in the productivity of a factor of production will
A. cause a firm to move down the marginal revenue product curve. B. cause a firm to move up the marginal revenue product curve. C. shift its marginal revenue product curve to the right. D. shift its marginal revenue product curve to the left.