Consider the following data: currency (held outside banks) = $354 billion, checkable deposits = $250 billion, traveler's checks = $4 billion, small-denomination time deposits = $200 billion, savings deposits = $100 billion, retail money market mutual funds = $160 billion. M1 equals __________ billion and M2 equals __________ billion
A) $608; $1,068
B) $708; $1,038
C) $708; $948
D) $694; $1,038
E) none of the above
A
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In 2011, Armenia had a real GDP of approximately $4.21 billion and a population of 2.98 million. In 2012, real GDP was $4.59 billion and population was 2.97 million. From 2011 to 2012, Armenia's standard of living ________
A) increased B) decreased C) did not change D) might have increased, decreased, or remained unchanged but more information is needed to determine which
A major shortcoming of a barter economy is
A) the requirement of specialization and exchange. B) that money loses value over time from inflation. C) the requirement of a double coincidence of wants. D) that most goods and services cannot be traded.
Generally speaking, by 1860 which of the following groups could not vote in the U.S.?
a. white male citizens b. black males in New York and New England c. alien males in the agricultural Northwest d. white women in the North
The Federal Reserve can tightly control
a. cash in the hands of the public b. cash in the hands of the public and demand deposits c. demand deposits d. funds in savings accounts and checking accounts e. borrowing by the government