Prior to 1863, all commercial banks in the United States
A) were chartered by the U.S. Treasury Department.
B) were chartered by the banking commission of the state in which they operated.
C) were regulated by the Federal Reserve.
D) were regulated by the central bank.
B
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When the nominal interest rate rises, the quantity of money demanded decreases because
A) people will buy fewer goods and hence hold less money. B) the price level also rises and people decrease their demand for money. C) people shift funds from interest-bearing assets into money. D) people shift funds from money holdings to interest-bearing assets.
Mexico and the United States are trading partners. If Mexico experiences a recession, the _____
a. aggregate demand curve of the United States will shift rightward. b. aggregate demand curve of the United States will shift leftward. c. aggregate supply curve of the United States will shift rightward. d. aggregate supply curve of the United States will shift leftward.