A) $250.
B) $25,000.
C) $1,000.
D) $6,250.
F) A) and C)
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A) the nominal interest rate would be greater than the real interest rate.
B) the real interest rate would be greater than the nominal interest rate.
C) the real interest rate would equal the nominal interest rate.
D) nominal GDP would be smaller than the money supply.
F) A) and D)
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A) 10.5 percent
B) 20 percent
C) 5.5 percent
D) 3.2 percent
F) None of the above
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A) lower output growth.
B) continuing declines in velocity.
C) increases in money-supply growth.
D) continuing increases in money demand.
F) All of the above
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A) People who held money would feel poorer.
B) Prices would rise.
C) People who had lent money at a fixed interest rate would feel poorer.
D) All of the above are correct.
F) A) and D)
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A) 2.4 percent.
B) 3.5 percent.
C) 8.5 percent.
D) 15 percent.
F) A) and D)
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A) inflation averaged 8% per year and the real interest rate was 9%.
B) inflation averaged 11% per year and the real interest rate was 17%.
C) inflation averaged 5% per year and the real interest rate was 4%.
D) inflation averaged 1% per year and the real interest rate was 6%.
F) A) and D)
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A) the price level and the real interest rate.
B) the price level but not the real interest rate.
C) the real interest rate but not the price level.
D) neither the price level nor the real interest rate.
F) None of the above
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A) both the classical dichotomy and the quantity theory of money.
B) the classical dichotomy,but not the quantity theory of money.
C) the quantity theory of money,but not the classical dichotomy.
D) neither the classical dichotomy nor the quantity theory of money.
F) All of the above
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A) P x Y must rise.
B) P x Y must fall.
C) P x Y must be unchanged.
D) the effects on P x Y are uncertain.
F) A) and C)
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A) the quantity of money demanded and the quantity of money supplied
B) the quantity of money demanded but not the quantity of money supplied
C) the quantity of money supplied but not the quantity of money demanded
D) neither the quantity of money supplied nor the quantity of money demanded
F) A) and C)
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A) the revenue a government creates by printing money.
B) higher inflation which requires more frequent price changes.
C) the idea that,other things the same,an increase in the tax rate raises the inflation rate.
D) taxes being indexed for inflation.
F) A) and C)
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A) 4
B) 2
C) 8
D) 10
F) A) and C)
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A) affect both nominal and real variables.
B) affect neither nominal nor real variables.
C) affect nominal variables,but not real variables.
D) do not affect nominal variables,but do affect real variables.
F) B) and C)
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A) the money supply must have increased,perhaps because the Fed bought bonds.
B) the money supply must have increased,perhaps because the Fed sold bonds.
C) the money supply must have decreased,perhaps because the Fed bought bonds.
D) the money supply must have decreased,perhaps because the Fed sold bonds.
F) A) and B)
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A) 10 percent
B) 20 percent
C) 3 percent
D) 5 percent
F) A) and C)
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A) the price level
B) nominal wages
C) nominal GDP
D) All of the above are correct.
F) B) and C)
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A) money demand slopes upward and money supply is horizontal.
B) money demand slopes downward and money supply is horizontal.
C) money demand slopes upward and money supply is vertical.
D) money demand slopes downward and money supply is vertical.
F) A) and D)
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A) is a fairly recent addition to economic theory.
B) can explain both moderate inflation and hyperinflation.
C) argues that inflation is caused by too little money in the economy.
D) All of the above are correct.
F) All of the above
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A) 3.33.
B) 0.83.
C) 1.20.
D) 13.33.
F) C) and D)
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