The economic expansion that began in 1991
a. lasted approximately five years.
b. lasted approximately twelve years.
c. lasted approximately nine years.
d. was the longest expansion in U.S. history.
e. was the second longest expansion in U.S. history.
D
Economics
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If the nominal money supply grows 10%, the inflation rate is 6%, and the income elasticity of money demand is 1.0, then real income growth equals
A) 1%. B) 2%. C) 3%. D) 4%.
Economics
Under the gold standard, because all currencies had values fixed in units of gold
A) exchange rates were essentially fixed. B) exchange rates were essentially floating. C) exchange rates were set to a crawling peg. D) none of the above
Economics