M1 money includes all but which one of the following?
a. Checkable deposits.
b. Savings accounts.
c. Paper money.
d. Coins.
b
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The velocity of money is
A) the average number of times that a dollar is spent in buying the total amount of final goods and services. B) the ratio of the money stock to high-powered money. C) the ratio of the money stock to interest rates. D) the average number of times a dollar is spent in buying financial assets.
The typical family on the Planet Econ consumes 10 pizzas, 7 pairs of jeans, and 20 gallons of milk. In 2008, pizzas cost $10 each, jeans cost $40 per pair, and milk cost $3 per gallon. In 2009, the price of pizzas increased to $14 each, while the price of jeans and milk remained the same. Between 2008 and 2009, a typical family's cost of living:
A. remained the same. B. decreased by 9 percent. C. increased by 40 percent. D. increased by 9 percent.