money is valuable because it
What will be an ideal response?
reduces transaction costs
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If velocity is constant then targeting the money supply and nominal GDP is
A) effectively an interest rate target. B) effectively a real GDP target. C) effectively the same thing. D) inherently inconsistent.
The types of loans the Fed makes consist of each of the following, except:
A. seasonal credit. B. primary credit. C. secondary credit. D. conditional credit.
Assume the Marshall-Lerner condition holds. Which of the following will cause a reduction in net exports?
A) a reduction in government spending B) a reduction in investment C) an increase in foreign output D) an increase in the real exchange rate E) all of the above
A capital gain is defined as
A) the tax paid when one sells an asset. B) the positive difference between the sale price and the purchase price of an asset. C) the tax rate one pays when one moves into a higher tax bracket. D) an unanticipated increase in income.