Since 1973, governmental efforts to control currency values have been _____, and currency exchange rates have ______.
a. nonexistent; remained constant
b. insufficient; changed dramatically
c. very strict; remained constant
d. nonexistent; been fixed
b. insufficient; changed dramatically
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If a banker expects interest rates to fall in the future, her best strategy for the present is
A) to increase the duration of the bank's liabilities. B) to buy short-term bonds. C) to sell long-term certificates of deposit. D) to increase the duration of the bank's assets.
An increase in investment, combined with an increase in imports, would have what effect on aggregate demand? a. AD would increase
b. AD would decrease. c. AD would stay the same. d. AD could either increase or decrease, depending on which change was of a greater magnitude.
If Sally Smith creates VCU1 by playing an online game, the effect is to cause the nation's:
a. Monetary base to fall. b. M2 money supply to fall. c. M2 money multiplier to remain the same. d. M2 money multiplier to fall.
An effective price ceiling is best defined as a price:
A. lower than any supplier is willing to sell. B. imposed by government below equilibrium price. C. higher than any consumer is willing to pay. D. imposed by government above equilibrium price.