Which of the following best illustrates the unit of account function of money?
A) You list prices for clothing sold on your Web site, www.nattydresser.com, in dollars.
B) You pay for your cruise tickets with dollars.
C) You keep $50 in your backpack for emergencies.
D) You keep your tips earned from your tour guide job in a separate jar at home.
Ans: A) You list prices for clothing sold on your Web site, www.nattydresser.com, in dollars.
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The members of the Board of Governors are appointed by
A. the president. B. Congress. C. the Federal Reserve district banks. D. the member banks.
Refer to the information provided in Figure 6.3 below to answer the question(s) that follow.
Figure 6.3Refer to Figure 6.3. Molly?s budget constraint is AD. It would swivel to AB if the price of
A. CDs increased. B. DVDs decreased. C. DVDs increased. D. CDs decreased.
The return received by the owners of capital is called the ________________________.
Fill in the blank(s) with the appropriate word(s).
The amount of money a bank can lend
a. depends on its gold holdings. b. depends on its holdings of government bonds. c. is inversely related to its reserve requirements. d. is unrestricted.