The standard definition of money is
a. currency + checking account balances + saving account balances
b. currency + checking account balances + travelers' checks
c. currency + checking account balances + credit cards
d. currency + credit cards + certificates of deposit
e. currency only
B
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The velocity of money is:
A. the number of transactions a typical dollar is used in during a given period. B. the number of goods a typical dollar can buy in a given period. C. how quickly money is created through the financial system. D. how quickly money will be accepted as a medium of exchange in a given period.
Which of the following goods would be most likely to feature an income elasticity of zero?
a. tickets to a championship football game b. insulin c. orange juice d. cigarettes
Firms operating in competitive markets have little choice but to innovate
a. True b. False Indicate whether the statement is true or false
A decrease in the demand for dollars on the foreign exchange market, all else equal, will result in:
A) appreciation of the U.S. dollar and depreciation of the foreign currency.
B) appreciation of the U.S. dollar and appreciation of the foreign currency.
C) depreciation of the U.S. dollar and depreciation of the foreign currency.
D) depreciation of the U.S. dollar and appreciation of the foreign currency.