A nation’s capital consists mainly of stocks, bonds, and other financial assets.
Answer the following statement true (T) or false (F)
False
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When a commercial bank lends $1000 to a customer, and the loan proceeds are spent by the customer, the legal reserves of the banking system
A) decline by $1000. B) do not change unless the loan proceeds are withdrawn in currency. C) rise by $1000. D) rise by more than $1000 because spending increases nominal GDP.
If a price ceiling is not binding, then it will have no effect on the market
a. True b. False Indicate whether the statement is true or false
The potential output of an economy is _____
Fill in the blank(s) with the appropriate word(s).
Other things being equal, the quantity theory of money suggests that any increase in the money supply
A. causes a reduction in the demand for money. B. causes the aggregate level of nominal Gross Domestic Product (GDP) to fall. C. results in a proportionate increase in the price level. D. results in a decrease in the aggregate price level.