Bank reserves include
A) vault cash and deposits with the Federal Reserve.
B) loans to bank customers and deposits with the Federal Reserve.
C) vault cash and loans to bank customers.
D) customer checking accounts and vault cash.
E) deposits with the Federal Reserve and holdings of securities.
Answer: A
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Last year an economy produced 2400 apples, 3000 pears and 2500 oranges. The price of apples was €0.50, the price of pears was €0.60 and the price of oranges was €0.50. Nominal GDP was:
(a) € 5200; (b) € 6600; (c) € 4250; (d) Cannot be computed.
Choose the letter of the diagram in Figure 3.1 that best describes the type of shift that would occur in each situation for the market listed on the left, ceteris paribus. Figure 3.1 Shifts of Supply and Demand Steel: the government introduces environmental restrictions on the dumping of wastes from producing steel.
A. A. B. B. C. C. D. D.
The market basket approach:
A. gives us a list of what the typical consumer buys and the average price change of those goods. B. tells us how the prices of all goods and services in an economy change over time. C. gives us a single number that represents how changing prices affect the typical consumer. D. tells us exactly how people change what they buy from year to year.
Mark buys a bond for $8,000 and receives interest payments of $100 every three months. The interest rate on the bond is approximately:
A. 1.3 percent. B. 2 percent. C. 5 percent. D. 20 percent.