The price of a 32GC iPhone is $299. What is the function of money in this context?
A) a medium of exchange
B) a means of payment
C) a unit of account
D) a measure of quality
Ans: C) a unit of account
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Vault cash is equal to $2 million, deposits by depository institutions at the central bank are $1 million, the monetary base is $15 million, and bank deposits are $35 million. Currency held by the nonbank public is
A) $3 million. B) $12 million. C) $15 million. D) $20 million.
Vault cash is part of a commercial bank's
A) demand deposits. B) capital. C) reserves. D) liabilities.
Contrary to popular belief, U.S. productivity growth did not actually improve in the mid 1990s despite the massive growth in technological innovation
a. True b. False Indicate whether the statement is true or false
A year-long drought that destroys most of the summer's crops would be considered a:
A. short-run supply shock. B. long-run demand shock. C. long-run supply shock. D. short-run demand shock.