The definition of the velocity of money is
a. the money supply multiplied by prices divided by transactions.
b. the number of times a unit of currency changes hands over a perid.
c. money supply times prices divided by transactions.
d. the fraction of total income held as money.
B
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Bankers' concerns regarding the optimal mix of excess reserves, secondary reserves, borrowings from the Fed, and borrowings from other banks to deal with deposit outflows is an example of
A) liability management. B) liquidity management. C) managing interest rate risk. D) managing credit risk.
Which of the following types of unemployment can exist in an economy that is at its potential output level?
a. cyclical unemployment only b. structural unemployment only c. frictional, cyclical, and seasonal unemployment only d. frictional, seasonal, and structural unemployment only e. there will be no unemployment in an economy that is at the potential output level
Most economists view the United States' experience with trade as
a. one from which no firm conclusions about the virtues of free trade can be reached, due to the relatively short history of international trade in the U.S. b. one from which no firm conclusions about the virtues of free trade can be reached, due to the lack of trade within the U.S. throughout most of the early history of the U.S. c. an ongoing experiment that confirms the virtues of free trade. d. an ongoing experiment that calls into serious question the notion that free trade enhances the economic well-being of a nation.
The world's leading exporting nation is _____________; the nation with the largest trade deficit is _______________.
Fill in the blank(s) with the appropriate word(s).