The simple quantity theory of money predicts that the larger the percentage change in the money supply, the larger the percentage change in Real GDP

The total federal debt is equal to

A) the total value of all U.S. currency in circulation. B) the sum of all past deficits minus the sum of all past surpluses. C) the federal budget deficit minus the federal budget surplus. D) annual federal tax receipts plus annual federal expenditures.

Tobin's generalized portfolio approach to the demand for money is based on the assumption that

A) money is needed for transactions. B) all interest-bearing assets are risky. C) the levels of risk and return vary among assets. D) variations in wealth have little effect on asset demands.