Economic growth is defined as
A. an increase in the supply of money measured by its rate of change per year.
B. any increase in per capita nominal GDP measured by its rate of change per year.
C. an increase in the satisfaction of all people within a country.
D. an increase in per capita real GDP measured by its rate of change per year.
Answer: D
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An increase in the currency drain
A) leads to an increase in excess reserves. B) decreases the size of the money multiplier. C) results in an increase in deposits. D) results in an increase in required reserves.
Since 1999, the capital account has recorded
A) relatively minor transactions, such as migrants' transfers, and sales and purchases of nonproduced, nonfinancial assets. B) transactions that affect the balance of trade or the balance of services. C) statistical discrepancy between the current account and the financial account. D) transactions that affect net capital flows in the economy.