In the United States at the end of 2012, the total money supply, M1, amounted to approximately
A) 16 percent of that year's GNP.
B) 20 percent of that year's GNP.
C) 30 percent of that year's GNP.
D) 40 percent of that year's GNP.
E) 50 percent of that year's GNP.
Correct Answer:
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Q4: What are the main functions of money?
Q5: The aggregate demand for money can be
Q6: Individuals base their demand for an asset
Q7: An individual's need for liquidity would increase
Q8: Which one of the following statements is
Q10: Explain why one can write the demand
Q11: For a given level of
A) nominal GNP,
Q12: In a world with money and bonds
Q13: The aggregate money demand depends on
A) the
Q14: Money serves as all of the following
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