Reserves of banks appear on their balance sheet as liabilities
a. True
b. False
Indicate whether the statement is true or false
False
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Refer to Figure 7.1. Suppose that instead of $350, Angus earns only $250 by playing the bagpipes, but all other earnings remain the same. Who values the property rights to the air more?
A) Angus B) Dudley C) They value the property rights equally. D) Neither value the property rights.
Economists who stress the store of value function of money generally
a. argue that M1 is the best measure of the money supply. b. prefer the M2 measure of the money supply to the M1 measure. c. argue that M1 is too broad a definition of the money supply. d. prefer the M1 measure of the money supply to the M2 measure.
If the Federal Reserve increases the growth rate of the money supply, in the long run
a. inflation is higher and the unemployment rate is lower. b. inflation is higher while the unemployment rate is unchanged. c. inflation is unchanged while the unemployment rate is lower. d. None of the above is correct.
Selling candy mints at a price below the seller's cost of purchasing them
What will be an ideal response?