An increase in ________ decreases the quantity of money people want to hold. a. the price level b. real GDP c. the interest rate d. the quantity of money
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According to quantity theory of money, quantity of money is directly related to level of price and inversely related to level of interest rate.
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- The following table shows a money demand schedule, which is the quantity of money demanded at various price levels ( P ).Fill in the Value of Money column in the following table.Price Level (P) Value of Money (1/P) Quantity of Money Demanded (Billions of dollars)1.00 ______ 1.51.33 _______2.02.00 _______3.54.00 _______ 7.0Now consider the relationship between the price level and the quantity of money that people demand. The lower the price level, the money the typical transaction requires, and the money people will wish to hold in the form of currency or demand deposits.Assume that the Fed initially fixes the quantity of money supplied at $3.5 billion.Use the orange line (square symbol) to plot the initial money supply ( MS1 ) set by the Fed. Then, referring to the previous table, use the blue connected points (circle symbol) to graph the money demand curve.Hyperinflation hurts: Select one: a. owners of gold b. real estate owners c. people on a fixed income d. those with credit card loansAsset Stocks Diamonds Oil Housing U.S. farmland Average price level Silver Bonds Stamps Gold Change in Value (%), 1991-2001 +250% +71 +66 +56 +49 +32 +22 +20 -9 -29 Instructions: Enter your responses as a percentage rounded to the nearest whole number. What happened during the period shown to the a. nominal price of gold? The nominal price (Click to select) by b. real price of gold? The real price (Click to select) by percent. percent.
- Economics #18 If last year there was deflation, and velocity of money remained constant, we can deduct that a.prices fell during the the last year. b.money growth must have been greater than the growth of real income. c. money growth must have been less than the growth of real income. d.output fell during the last yearGovernments critically analyze the impact of increasing minimum wages. Increasing wages is a risky decision for an economy because this might cause ___________. a. Cost push b. Hyperinflation c. to bring low cost of production d. Built in inflationIn australia,What happened to government purchases between 1960 and 2016? Select one: a. they generally fell b. they generally grew c. they grew steadily but declined during recessions d. they fluctuated significantly
- The _demand for money arises from the need to hold money as a medium of exchange. This demand for money is a function of Select one: a. transaction; interest rates O b. precautionary; national income O c. transaction; national income O d. speculative; interest ratesOnly typed answer (a) A bank is offering 5-year certificates of deposit (CDs) with a 5% interest rate. The expected inflation rate is 3%. Calculate the expected real interest rate on the CD. (Show your work.If the price level falls, then the value of a dollar: A. Rises so people will buy more B. Rises so people will buy less C. Falls so people will buy more D. Falls so people will buy less
- A country has 4 million units of goods and services within itself. While these goods and services remain constant, the government printed money and increased the amount of money in circulation from 10 million units to 12 million units. Under these conditions: a) Calculate the amount of increase in prices. b) Calculate the rate of decrease in the purchasing power of moneyQuestion 21 Inflation is an increase in the ___ average hourly wage rate. rate of growth of GDP. overall level of economic activity. general price level in the economy.Part 1) Can you Explain how an economy’s income must always equal its expenditure with simple example Part 2) Can you please write the problems with the Consumer Price Index. Part 3) What is fiat money? What is commodity money? Which kind do we use? Part 4) Suppose you given a choice to live in a country with high level GDP and low growth rate or to live in a low level of GDP and a high growth rate, which option would you choicee and why?