If money were not used as a medium of exchange,
a. the gains from trade would be severely limited.
b. our standard of living would probably improve.
c. the transaction costs of exchange would be lower.
d. economic efficiency would increase.
A
Economics
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If the required reserve ratio is 10 percent, currency in circulation is $1,200 billion, checkable deposits are $1,600 billion, and excess reserves total $2,500 billion, then the M1 money multiplier is
A) 2.5. B) 1.7. C) 7.3. D) 0.73.
Economics
The smaller the underground economy the more will be the overstatement of the official unemployment rate
a. True b. False Indicate whether the statement is true or false
Economics