In Canada today, how much gold will the Bank of Canada give you in exchange for $1?
A) none
B) $1 worth of gold (based on the market price of an ounce of gold at the time you redeem the gold)
C) 1 ounce of gold
D) 1/35th of an ounce of gold
Ans: A) none
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Refer to the table above. What is the marginal rent cost if the firm decides to choose factory Far over factory Very Far?
A) $40 B) $100 C) $150 D) -$150
With respect to Friedman's natural rate theory, expansionary monetary policies can
a. move output above the natural rate but leave unemployment at the natural rate in the short-run. b. only affect inflation and not unemployment in the long-run. c. leave output at its natural rate with a simultaneous decrease in the natural rate of employment. d. move output and employment below the natural rate.
Suppose Bank X is holding total cash reserves of $32,000 on deposits of $90,000 . If the reserve requirement is 15 percent, then the excess reserves held by this bank is:
a. $27,200. b. $58,000. c. $4,800. d. $13,200. e. $18,500.
The velocity of money is:
A. money supply divided by prices. B. spending divided by output. C. required monetary reserves divided by income. D. nominal GDP divided by the money supply.