Which of the following is NOT included in the money supply when the transactions approach is used?
A. money market deposit accounts
B. currency
C. traveler's checks
D. transaction deposits
Answer: A
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If the market for a product is broadly defined, then
A) there are many substitutes for the product and the demand for the product is relatively elastic. B) the good has many complements. C) the expenditure on the good is likely to make up a large share of one's budget. D) there are few substitutes for the product and the demand for the product is relatively inelastic.
We can calculate how long a country will take to double its real GDP per capita using:
A. its average growth rate. B. its GDP deflator. C. the CPI indexation factor. D. the GDP growth estimator.
When Fed policy is addressing either a contractionary or inflationary gap, interest rates will be changed in the same direction as the intended change in real GDP
a. True b. False Indicate whether the statement is true or false
What would happen if you increased the price to $3 and increased the quantity supplied to 4,000 pounds?
a. You would maintain the same shortage.
b. You would lessen the shortage.
c. You would reach equilibrium.
d. You would create a surplus.