During the Federal Bank Holiday ordered by President Roosevelt and the week that followed it,
a. new supplies of gold were distributed to the banks.
b. a national monetary commission was set up.
c. the banks were inspected.
d. actions were taken to take the US off the gold standard
e. Both c and d are correct.
e. Both c and d are correct.
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An indirect effect of an increase in the price level works through
A) changes in trade balances as domestic goods become more expensive, causing interest rates to move in the opposite direction from the change in the exchange rate. B) interest rates as people save more as the higher prices make their money balances less attractive. C) people substituting out of domestic goods and into foreign goods as exchange rates rise. D) interest rates as people borrow to maintain their money balances, bidding up interest rates and reducing total planned real expenditures.
The short-run model makes use of the , which assumes that private consumption expenditure is sensitive to changes in current income.
a. Pareto-optimal condition b. consumer sovereignty model c. Keynesian consumption function d. consumption-smoothing model