Which of the following is an example of a capital resource?
a. a bank loan
b. a corporate bond
c. a tractor used by a farmer
d. a lawn tractor used by a household
e. 100 acres of prime farmland
C
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If a person earns an 8 percent nominal rate of interest on his savings account in a year when inflation is 9 percent, the person's real rate of interest is
a. -1 percent. b. 1 percent. c. 8 percent. d. 9 percent.
Assume that the nominal exchange rate increases by 2%. If prices (both domestic and foreign do not change), we know that
A) domestic goods are now relatively cheaper. B) domestic goods are now relatively more expensive. C) foreign goods are now relatively cheaper. D) both B and C
An open-market purchase of securities by the Fed results in ________ in reserves and ________ in the supply of money.
A. an increase; an increase B. a decrease; an increase C. an increase; a decrease D. a decrease; a decrease
According to Keynes's theory of liquidity preference, velocity increases when
A) income increases. B) wealth increases. C) brokerage commissions increase. D) interest rates increase.