In 1996, if nominal GDP was about $8.5 thousand billion. The stock of money was
A. about the same as this.
B. much less than this.
C. much more than this.
D. unrelated to this number.
Answer: B
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In response to the early Keynesians, monetarists contended that
A) monetary policy during the Great Depression was not easy. B) bank failures during the Great Depression were not the cause of the decline in the money supply. C) evidence from the Great Depression demonstrated the ineffectiveness of monetary policy. D) there is a weak link between interest rates and investment spending.
If the buyer commits $100,000 of his or her own funds and borrows $900,000 to purchase $1 million in assets, then the leverage ratio is
A. 10 to 1. B. 25 to 1. C. 9 to 1. D. 5 to 1.
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