Which of the following is a nominal quantity?
A. The amount of coal mined in one month
B. The current price of a barrel of oil
C. The number of people unemployed
D. The number of cars produced in 2005
Answer: B
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A gold purchase by the U.S. Treasury
A) reduces bank reserves. B) increases bank reserves. C) increases Federal Reserve equity. D) leaves bank reserves unaffected.
Australia is a net exporter of wool, free trade will benefit the ________.
A. poor citizens of the Australia B. domestic producers C. rich citizens of the Australia D. domestic consumers
Which of the following is the best example of an item that a "real world" savings account is designed to cover?
What will be an ideal response?
Suppose a credit union strives for a 3% real return on its loans to members, and expects a 2% inflation rate. What nominal rate of interest should it charge its members?
A) 0% B) 1% C) 3% D) 6%