Gross income net of taxes is known as ________
A) Gross Domestic Product, or GDP
B) disposable income
C) Gross Domestic Product per capita
D) retained earnings
B
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If the Fed wanted to expand the money supply as part of an antirecession strategy, it could
a. increase the interest rate paid on excess reserves encouraging banks to extend more loans. b. decrease the interest rate paid on excess reserves encouraging banks to extend more loans. c. decrease the interest rate paid on excess reserves encouraging banks to hold excess reserves rather than extend more loans. d. increase the interest rate paid on excess reserves encouraging banks to hold excess reserves rather than extend more loans.
In a 100-percent-reserve banking system, if people decided to decrease the amount of currency they held by increasing the amount they held in checkable deposits, then
a. M1 would increase. b. M1 would decrease. c. M1 would not change. d. M1 might rise or fall.