Define the three functions of money
What will be an ideal response?
The medium of exchange enables one to undertake transactions. The unit of account denotes the prices of goods and services and debts are quoted in terms of the currency. The store of value enables one to make purchases over time.
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Suppose two variables are directly related. If one variable rises, then the other variable:
a. remains unchanged. b. falls. c. also rises. d. reacts unpredictably.
Measured in 1990 dollars, the GDP per person of the world was $667 in 1813. By 2003, the world's income per person had risen to
What will be an ideal response?
If the MPC is 0.5, the tax multiplier is
A. -2.5. B. -2. C. -1.67. D. -1.
Refer to row 2 in the table. The number appropriate for space X is:
Answer the question on the basis of the following table for a commercial bank or thrift:
A. $20,000.
B. $60,000.
C. $200,000.
D. $100,000.