Research for a number of OECD countries suggests that inflation will be lower
A) the more independent the central bank.
B) the less independent the central bank.
C) if the heads of central banks are chosen by election.
D) when the terms of the heads of central banks coincide with the terms of elected officials.
A
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In the table above, Jack's opportunity cost for 1 pound of food is ________ and his opportunity cost for 1 pound of clothing is ________
A) 1 pound of clothing; 4 pounds of food B) 1/2 of a pound of clothing; 2 pounds of food C) 1/3 of a pound of clothing; 3 pounds of food D) 2 pounds of clothing; 2 pounds of food E) 1 pound of food; 1 pound of clothing
Buying a cup of coffee with a dollar bill represents the use of money as a
Figure 3-9
Given the demand (D) and supply (S) for gasoline in , if the price of gasoline were $3 per gallon,
a.
consumers would wish to purchase more than was being supplied.
b.
producers would be supplying more than consumers wished to purchase.
c.
the quantity consumers wished to purchase would equal the quantity that producers wished to supply.
d.
there would be a tendency for the price of gasoline to rise.
Vault cash is equal to $2 million, deposits by depository institutions at the central bank are $1 million, the monetary base is $15 million, and bank deposits are $30 million. Bank reserves are equal to
A. $5 million. B. $2 million. C. $3 million. D. $10 million.