Data show that in the U.S. since 1915, the velocity of M1 money
a. has been highly stable at approximately 24
b. has increased at about 3 percent per year
c. has been erratic, varying between about 2 and 6
d. increased steadily until the 1960s, then decreased sharply thereafter
e. has stayed fairly constant at approximately 4
C
Economics
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The money supply that consists of currency, transaction deposits, and traveler's checks is
A) the fiduciary monetary system. B) M1. C) M2. D) the liquidity approach.
Economics
In August 1979, President Jimmy Carter appointed ________ as chairman of the Board of Governors of the Federal Reserve System
A) Paul Volcker B) Alan Greenspan C) G. William Miller D) Ben Bernanke
Economics