From 1970 to 2010, as a fraction of GDP, the quantity of money that people and businesses have held has been
A) independent of people's use of credit cards.
B) increasing.
C) decreasing.
D) fluctuating erratically.
E) changing only as the interest rate changed.
C
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People who lost their jobs as hand-drawn animators because of the popularity of computer-generated 3D animation are examples of persons who are suffering
A) cyclical unemployment.
B) frictional unemployment.
C) seasonal unemployment.
D) structural unemployment.
E) unnatural unemployment.
Provide an example of a modern day “Tragedy of the Commons,” and explain why it is an example of it.
What will be an ideal response?
A fall in the price level will:
A. increase the value of money in people's pockets. B. decrease the value of money in people's pockets. C. reduce real wealth. D. not affect the value of money in people's pockets.
The trade feedback effect illustrates the fact that
A. an increase in U.S. economic activity leads to a decrease in the economic activity of other countries. B. imports affect exports and exports affect imports. C. U.S. imports depress the imports of other countries. D. imports and exports are unrelated to one another.