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.
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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.
Paper money()
A. has a high intrinsic value.
B. is the primary medium of exchange in a barter economy.
C. is valuable because it is generally accepted in trade.
D. is valuable only because of the legal tender requirement.
An item that people can use to transfer purchasing power from the present to the future is called()
A. a medium of exchange.
B. a unit of account.
C. a store of value.
D. None of the above is correct.
Liquidity refers to()
A. the ease with which an asset is converted to the medium of exchange.
B. a measurement of the intrinsic value of commodity money.
C. the suitability of an asset to serve as a store of value.
D. how many time a dollar circulates in a given year.
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