Which of the following is the definition for the real supply of money?
A) The stock of money measured in terms of goods, not dollars.
B) The stock of high powered money only.
C) The real value of currency in circulation only.
D) The actual quantity of money, rather than the officially reported quantity.
E) The ratio of the real GDP to the nominal money supply.
A
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If a good is not produced, then there is no demand for it
Indicate whether the statement is true or false
A price ceiling:
a. is the lowest price that the law will allow to be charged in the market. b. is the highest price that the law will allow to be charged in the market. c. is the price that must be charged in the market. d. would be imposed if the government believes the market equilibrium price is too low. e. would only be applicable in the case of non-essential goods.