"Near monies" are:
a. included in the M1 definition of the money supply
b. highly liquid assets that are close substitutes for money.
c. stocks, bonds, and real estate.
d. U.S. notes and Federal Reserve notes.
b
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A decrease in the equilibrium quantity for a product will result
A) when there is an increase in supply and a decrease in demand for the product. B) when there is a decrease in supply and a decrease in demand for the product. C) when the quantity demanded for the product exceeds the quantity supplied. D) when there is a decrease in demand and an increase in the number of firms producing the product.
Who among the following benefits from inflation?
a. Patrick Roy who borrowed $10,000 from a bank to pay the downpayment on a house he bought in Denver b. The Denver National Bank who provided Patrick Roy with the $10,000 to make the downpayment c. Jerry Swanson, a landlord who holds a 5-year lease on an apartment rented to students off campus at the University of Arizona d. Peter Schran who loaned Larry Neal $500 without charging Larry any interest e. Ian McDonald who is retired and lives on his $700 per week pension