Which of these is a flow variable?
a. Money
b. Income
c. Jewelry
d. Bank deposit
e. Foreign currency reserve
b
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The superstar effect is that
A) the supply of superstars is more elastic than that for average players. B) the labor market cannot create equilibrium wages for the best players. C) the demand for a few players is relatively greater than the demand for most other players. D) none of these choices.
The monetary policy decisions made by the Federal Reserve must be approved by the Congress before they are enacted
a. True b. False Indicate whether the statement is true or false
If the Fed raises the discount rate, what happens to reserves and the money supply?
a. Reserves increase and the money supply decreases. b. Both increase. c. Reserves decrease and the money supply increases. d. Both decrease.
A firm increases output from 2 to 4 units per week. As it does its total costs rise from €1200 to €1500, while its fixed costs remain constant at €800. The firms MC is:
a) €100 b) €150 c) €300 d) zero