For the past several decades, the U.S. M1 multiplier has been between
A. 0.5 and 2.5.
B. 1.0 and 3.0.
C. 3.0 and 6.0.
D. 0 and 10.0.
Answer: B
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A decrease in the real money supply can result from:
A) increase in the nominal money supply or an increase in the price level. B) increase in the nominal money supply or a decrease in the price level. C) decrease in the nominal money supply or an increase in the price level. D) decrease in the nominal money supply or a decrease in the price level.
Which of the following statements about a price system is TRUE? I. Prices ration goods and services. II. Prices indicate relative scarcity
A) I only B) II only C) Both I and II D) Neither I nor II
Which of the following is false? a. The price elasticity of supply measures the sensitivity of the quantity supplied to the changes in the price of the good. b. The price elasticity of supply is defined at the percentage change in the quantity supplied divided by the percentage change in price. c. Goods with a supply elasticity that is greater than 1 are called relatively elastic in supply
d. When supply is inelastic, a 1 percent change in the price of a good will induce a more than 1 percent change in the quantity supplied.
If there were no usury law the interest rate would be ________%.
A. 6
B. 12
C. 18
D. 24