If you place $100 in a bank account that pays 6% at the end of each year, and you leave your $100 and all your interest in the bank, how much will you have in the bank at the end of 7 years with annual compounding?

If the Fed bases its monetary policy on judgments of its policymakers about the current needs of the economy, it is following

A) discretionary policy. B) a money targeting rule. C) an inflation targeting rule. D) wait-and-see policy. E) a monetary base instrument rule.

The _______ demand for money is holding money in expectation that bond prices and the prices of other assets might change.

A) speculative B) exchange C) transactions D) precautionary