The monetary base is equal to the sum of coins,
A) currency and banks' reserves at the Federal Reserve.
B) currency and checkable deposits at banks.
C) currency, banks' reserves at the Federal Reserve and checkable deposits at banks.
D) and checkable deposits at banks.
E) U.S. government securities owned by the Federal Reserve and Federal Reserve notes.
A
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Real per capita GDP:
A. grows at approximately the same rate for all countries. B. was much more equal across nations in 1820 than it is today. C. has been about 20 times higher in the richer nations than the poorer nations for about 2000 years. D. grows much faster in "leader countries" than in "follower countries."
Steady-state consumption per worker is
A. less than steady-state saving per worker. B. less than steady-state investment per worker. C. larger in the short run than in the long run. D. steady-state production per worker minus steady-state investment per worker.