Federal Reserve Notes held by the Fed are considered part of the
A) money supply.
B) bank reserves.
C) both of the above
D) none of the above
D
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The growth rate of real GDP per person equals the
A) population growth rate plus the growth rate of real GDP. B) change in the economic growth rate divided by the change in the population growth rate. C) the economic growth rate per person divided by the change in the population growth rate. D) growth rate of real GDP minus the growth rate of the population. E) population growth rate plus the growth rate of real GDP then divided by the initial level of real GDP.
If the current account has a negative balance of $100 and the capital and financial account has a positive balance of $80, there will be ________ in official reserves of ________
A) a decrease; $20 B) an increase; $20 C) an increase; $180 D) a decrease; $180
If the Federal Reserve wants to reduce inflation from 4 percent to 3 percent permanently, how can that goal be achieved, and what impact will that have on employment in the short run and the long run? Support your answer with a graph of the Phillips
curve in the short run and the long run.
If Chris can produce a service using fewer resources than Pat would, then Chris
a. has an absolute advantage in producing that service b. has a comparative advantage in producing that service c. has both an absolute advantage and a comparative advantage in producing that service d. is productively efficient e. cannot have a comparative advantage in producing that service