C啤酒虾h4
1. Which of the following is not a function of money?
A. It is a means of production.
B. It is a unit of account.
C. It is a store of value.
D. It is a medium of exchange.
2. One purpo of money is to transfer purchasing power from the prent into the future. This function of money is called
A. store of value.
B. index of inflation.
C. medium of exchange.
D. unit of account.
3. One purpo of money is to provide the terms in which prices are quoted and debts are recorded. This function of money is called
A. store of value.
B. index of inflation.
心理语言学C. medium of exchange.
D. unit of account.
4. One purpo of money is to be the item we u to buy and ll things. This function of money is called
A. store of value.
B. index of inflation.
C. medium of exchange.
D. unit of account.
5. Of all of the following that could be ud as money, which would be most likely to be characterized as fiat money?
A. Chocolate bars
B. Silver jewelry
C. Gum wrappers
D. Salt
6. Which of the following is a type of open-market operation?
A. The government lls Treasury bills to the public.
B. The government prints money and us it to buy army uniforms.
C. The Fed lls Treasury bills to the public.
D. The Fed buys foreign currency in the exchange market.
7. M2 does not include
A. currency.
B. long-term government bonds.
C. traveler's checks.
D. demand deposits.
8. In the quantity equation, V reprents the
A. total number of transaction during some period of time.
安求其能千里也B. price of a typical transaction.
C. rate at which money circulates in the economy.
D. quantity of money.
9. According to the quantity equation, if M increas by 3 percent and V increas by 2 percent, then
A. real income increas by approximately 5 percent.
B. the price level increas by approximately 5 percent.
C. the nominal interest rate increas by approximately 5 percent.
D. nominal income increas by approximately 5 percent.
10. According to the quantity equation, which of the following might happen if the money supply increas?
A. Velocity is constant, prices are constant, and total output increas.
B. Velocity increas, prices are constant, and total output is constant.
C. Velocity is constant, prices fall, and total output is constant.
D. Velocity ris, prices fall, and total output is constant.
11. Consider an economy where the money supply is growing at 7 percent per year and velocity is constant. Which of the following statements about real GDP growth and the inflation rate could be true?
淄博周村
A. Real GDP is growing at 2 percent and inflation is 5 percent.
B. Real GDP is growing at 7 percent and inflation is 7 percent.
C. Real GDP is growing at 2 percent and inflation is 9 percent.
D. Real GDP is growing at 9 percent and inflation is 2 percent.
树赖
12. Consider an economy where the only goods traded are coconuts and pineapples. Last year, 100 coconuts were sold at $1 apiece, and 200 pineapples were sold at $2.50 apiece. If the money supply was $100, what was velocity?
A. 30
B. 15
C. 6
D. 5
13. Which component of the quantity equation is assumed constant by the quantity theory of money?
A. The money supply
B. The velocity of money
C. The level of income
D. The price level
14. The quantity theory of money states that if the money supply doubles and output is co
nstant, prices will
A. fall by half.
B. remain the same.
C. double.
D. fall only if velocity ris.
15. The difference between the nominal interest rate and the real interest rate is
A. inflation.
B. taxes.
C. ignorage.
D. hyperinflation.
16. The Fisher equation states that a 1 percent ri in the rate of inflation caus a 1 percent ri in the
show
A. real interest rate.
B. nominal interest rate.
C. money supply.
D. number of transactions.
17. The ex ante real interest rate differs from the ex post real interest rate only when
秦桧
A. the money supply grows at a constant rate.
B. the money supply remains the same.
糖果屋C. the money supply falls at a constant rate.
D. actual inflation differs from expected inflation.
18. Which of the following statements is fal?
A. If inflation is higher than the real interest rate, then the nominal interest rate must be negative.
B. If inflation is higher than the nominal interest rate, then the real interest rate must be negative.
C. If the nominal interest rate is higher than the real interest rate, then inflation must be positive.
