Historical note: John Maynard Keynes did all of the following except
a. become the chief economic counsel to the British delegation at Versailles after World War I
b. become a member of London's (famous or infamous) Bloomsbury set
c. win the Nobel prize in economics for his contributions to economic theory
d. increase King's College's endowment tenfold through stock market speculation
e. develop a new school of economic thought
C
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Nominal GDP is measured by calculating real GDP at constant prices
Indicate whether the statement is true or false
How will the purchase of $100 million of government securities by the Federal Reserve change bank reserves and total checking account deposits in the banking system as a whole? Assume that banks do not hold any excess reserves, that households and
firms do not change the amount of currency they hold, and that the required reserve ratio is 20 percent.
If two risky assets, A and B, have negative correlation, then when A's yield increases
A) B's yield increases. B) B's yield decreases. C) B's yield can increase or decrease. D) There is not enough information to determine what B's yield will do.
If the price index is 108.4 in period 1 and 118 in period 2, the inflation rate from period 1 to period 2 would be _____
a. 10 percent b. 8.9 percent c. 10.8 percent d. 4.2 percent