The quantity equation states that:
A. money times velocity equals real GDP.
B. money times the average price level equals real GDP.
C. money times the average price level equals nominal GDP.
D. money times velocity equals nominal GDP.
Answer: D
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The private information revealed during screening typically refers to information:
A. that is personal. B. that is embarrassing. C. that is not public. D. that individuals generally do not want anyone to find out.
Which of the following hinders economic freedom?
a. Lower taxes b. Regulations on emissions from automobiles c. International trade d. Secure private property rights e. A democratic government
Suppose you found $3,000 hidden in your closet and deposited it in a demand deposit account at your bank. If the reserve requirement was 40 percent, the deposit would directly create ____ in excess reserves and ultimately lead to a ____ total increase in the money supply, if all banks in the system lend out 100 percent of their excess reserves
a. $1,800; $7,500 b. $1,800; $5,400 c. $3,000; $7,500 d. $3,000; $3,000
__________ costs associated with matching buyers & sellers are significant.
Fill in the blank(s) with the appropriate word(s).