Which of the following is money?
A) credit card
B) e-checks
C) debit card
D) checkable deposit
E) checks
D
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A goal of market-based reforms of the health care system is to give patients an incentive to pay more attention to the prices of medical services. This would tend to ________ economic efficiency by ________ the costs of medical services
A) increase; increasing B) decrease; increasing C) increase; decreasing D) decrease; decreasing
If a bank sells a $1,000 security to the Fed and the required reserve ratio is 20 percent: a. the bank has $1,000 in additional excess reserves, of which it can lend $800. b. the bank has $1,000 in additional excess reserves, all of which it can lend out. c. the bank has lost an asset and must reduce its loans
d. the bank has lost a liability. e. there is no change in excess reserves, since net assets do not change.
Monetarists accept the idea that velocity is not constant; nonetheless, they believe that it is still highly:
a. constant. b. unpredictable, ill-behaved, and independent of money supply. c. unpredictable, well-behaved, and dependent of money supply. d. predictable. e. variable.
Suppose the equilibrium price of a tube of toothpaste is $2, and the government imposes a price floor of $3 per tube. As a result of the price floor,
a. quantity demanded decreases. b. quantity supplied increases. c. there is a surplus. d. All of the above are correct.