If nominal GDP is $10 trillion and real GDP is $8 trillion, the GDP deflator is ()
A. 80, and this indicates that the price level has decreased by 20 percent since the base year.
B. 80, and this indicates that the price level has increased by 80 percent since the base year.
C. 125, and this indicates that the price level has increased by 25 percent since the base year.
D. 125, and this indicates that the price level has increased by 125 percent since the base year.
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Credit cards ()
A. are included in M1 but not M2.
B. are included in M1 and M2.
C. are included in M2 but not M1
D. are not included in any measure of the money supply.
Suppose a bank has a 10 percent reserve requirement, $5,000 in deposits, and has loaned out all it can given the reserve requirement.()
A. It has $50 in reserves and $4,950 in loans.
B. It has $500 in reserves and $4,500 in loans.
C. It has $555 in reserves and $4,445 in loans.
D. None of the above is correct.
If the reserve ratio is 5 percent, $1,000 of additional reserves can create()
A. $25,000 of new money.
B. $20,000 of new money.
C. $19,000 of new money.
D. $15,000 of new money.
To increase the money supply, the Fed could()
A. sell government bonds.
B. decrease the discount rate.
C. increase the reserve requirement.
D. None of the above is correct.
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