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Answer 5: The correct option is: (A) No physical commodity. This is because US dollar is a fiat money, which means it is inconvertible paper money made legal tender by a government decree.
Earlier in the history, governments would mint coins out of a valuable physical commodity, such as gold or silver, or print paper money that could be redeemed for a set amount of a physical commodity.Earlier in U.S. history, the country's currency was backed by gold (and in some cases, silver). The federal government stopped allowing citizens to exchange currency for government gold with the passage of the Emergency Banking Act of 1933.
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5. In the United States, money is backed by: Select one: a. no physical commodity. b....
5. Suppose in the United States economy, the rate of money growth for the current year is 8 percent, the velocity of mon...
5. Suppose in the United States economy, the rate of money growth for the current year is 8 percent, the velocity of money in circulation is constant, and inflation is expected to be about 2 percent over the current year. What is the short run economic growth rate? A) 16 percent B) 10 percent C) 8 percent D) 6 percent E) 4 percent 8. The fisher effect matters in terms of inflation given that A) borrowers agree to loan terms...
QUESTION 1 According to the classical economists, those who are not working have chosen not to...
QUESTION 1 According to the classical economists, those who are not working have chosen not to work at the market wage. are unable to find a job at the current wage rate. have given up looking for a job but would accept a job at the current wage if one were offered to them. are too productive to be hired at the current wage. QUESTION 2 Which of the following explains why the long-run Phillips curve is drawn as a...
According to the Fisher equation, the real interest rate is given by a zero. b. the...
According to the Fisher equation, the real interest rate is given by a zero. b. the nominal interest rate plus the rate of inflation c. the nominal interest rate minus the rate of unemployment. d. the rate of economic growth. e. the nominal interest rate minus the rate of inflation An implication of sticky inflation is that, through monetary policy changes, the Federal Reserve a. has no impact on inflation b. can alter the real interest rate in the long...
An increase in the Money Supply: Select one: O a. leads to a fall in prices...
An increase in the Money Supply: Select one: O a. leads to a fall in prices and an increase in consumption, shifting the AD to the left O b.leads to an increase in net exports, shifting the AS to the right O c. leads to a fall in interest rates and a consequent increase in investment, shifting the AD to the right O d. none of the above if a country that is a trade partner of ours falls into...
What is an annuity? Select one: a. present worth of a series of equal payments. b....
What is an annuity? Select one: a. present worth of a series of equal payments. b. a single payment. c. a series of payments that changes by a constant amount from one period to the next. d. a series of equal payments over a sequence of equal periods. e. a series of payments that changes by the same proportion from one period to the next. Question 2 The present worth factor Select one: a. gives the future value equivalent to...
1. The best definition of inflation is a(n): a temporary increase in prices. b. increase in...
1. The best definition of inflation is a(n): a temporary increase in prices. b. increase in the price of one important commodity such as food. c. persistent increase in the general level of prices as measured by a price index. d. increase in the purchasing power of the dollar. 2. Inflation: a. reduces the cost-of-living of the typical worker. b. is measured by changes in the cost of a typical market basket of goods between time periods. c. causes the...
Residential investment includes spending by firms on office buildings. Select one: O True O False The...
Residential investment includes spending by firms on office buildings. Select one: O True O False The GDP deflator is a measure of the Select one: O a. average level of prices of intermediate goods and services in the economy. O b. average level of prices of final goods and services in the economy. O c. total production of the economy unadjusted for inflation. O d.) total production of the economy adjusted for inflation. To examine how the total production of...
11.An aqueous solution of NH4NO3 would be: Select one: a. neutral b. impossible to tell c....
11.An aqueous solution of NH4NO3 would be: Select one: a. neutral b. impossible to tell c. acidic d. basic 12.A given reaction has a Kc value of is 6.25 x 10-4. Select the BEST option below: At the same conditions Qc is found to be 6.25 x 10-3 . Select one: a. the system is at equilibrium b. products are favoured, the reaction proceeds right c. reactants are favoured, the reaction proceeds left d. it is impossible to determine which...
When companies need new funds for a project, they Select one: a. Sell bonds b. Sell...
When companies need new funds for a project, they Select one: a. Sell bonds b. Sell shares of stock c. Borrow money from the Fed d. Both (a) and (b) are correct e. Both (b) and (c) are correct The most powerful policy making body of the Fed is the Select one: a. Governors of the Fed O b. Presidents of the Federal Reserve district banks c. U.S. Treasury d. Federal Open Market Committee (FOMC) Eurodollars are Select one: a....
1. Structural unemployment is the result of A) short-term movement of workers between jobs. B) job...
1. Structural unemployment is the result of A) short-term movement of workers between jobs. B) job search for first-time job seekers. C) technological change or permanent changes in industry demand. D) business cycle fluctuations. E) recurring changes in the hiring needs of certain industries. 2. The real interest rate equals A) the nominal interest rate minus the rate of unexpected inflation. B) the rate of expected inflation minus the nominal interest rate. C) the nominal interest rate minus the rate...
According to the Fisher equation, the real interest rate is given by a zero. b. the nominal interest rate plus the rate of inflation c. the nominal interest rate minus the rate of unemployment. d. the rate of economic growth. e. the nominal interest rate minus the rate of inflation An implication of sticky inflation is that, through monetary policy changes, the Federal Reserve a. has no impact on inflation b. can alter the real interest rate in the long...
An increase in the Money Supply: Select one: O a. leads to a fall in prices and an increase in consumption, shifting the AD to the left O b.leads to an increase in net exports, shifting the AS to the right O c. leads to a fall in interest rates and a consequent increase in investment, shifting the AD to the right O d. none of the above if a country that is a trade partner of ours falls into...
1. The best definition of inflation is a(n): a temporary increase in prices. b. increase in the price of one important commodity such as food. c. persistent increase in the general level of prices as measured by a price index. d. increase in the purchasing power of the dollar. 2. Inflation: a. reduces the cost-of-living of the typical worker. b. is measured by changes in the cost of a typical market basket of goods between time periods. c. causes the...
Residential investment includes spending by firms on office buildings. Select one: O True O False The GDP deflator is a measure of the Select one: O a. average level of prices of intermediate goods and services in the economy. O b. average level of prices of final goods and services in the economy. O c. total production of the economy unadjusted for inflation. O d.) total production of the economy adjusted for inflation. To examine how the total production of...
11.An aqueous solution of NH4NO3 would be: Select one: a. neutral b. impossible to tell c. acidic d. basic 12.A given reaction has a Kc value of is 6.25 x 10-4. Select the BEST option below: At the same conditions Qc is found to be 6.25 x 10-3 . Select one: a. the system is at equilibrium b. products are favoured, the reaction proceeds right c. reactants are favoured, the reaction proceeds left d. it is impossible to determine which...
When companies need new funds for a project, they Select one: a. Sell bonds b. Sell shares of stock c. Borrow money from the Fed d. Both (a) and (b) are correct e. Both (b) and (c) are correct The most powerful policy making body of the Fed is the Select one: a. Governors of the Fed O b. Presidents of the Federal Reserve district banks c. U.S. Treasury d. Federal Open Market Committee (FOMC) Eurodollars are Select one: a....
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