Which of the following is not included in M2?
a) coins
b) gold
c) savings accounts
d) retail money market mutual funds
e) overnight repurchase agreements
b) gold
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An increase in the money supply is likely to reduce
A. interest rates. B. nominal income. C. the general price level. D. money demand.
Which of the following is not an example of intermediate goods or services?
a. Steel used in the manufacture of cars b. Pizzas bought at a restaurant c. Legal services hired by a public accounting firm d. Glass used to manufacture sunglasses e. Vegetables used by a restaurant
The most detrimental effect of the 1999 repeal of the Glass-Steagall Act was that it
A. was a major contributor to the financial crisis of 2008. B. was a major detriment to mergers of financial institutions. C. American financial institutions were less able to compete with their European counterparts. D. increased the differentiation among banks, securities firms, and insurance companies.
At very low levels of disposable income,
A. consumption is greater than disposable income. B. disposable income is greater than consumption. C. people save most of their incomes. D. consumption is negative.