Prisoners sometimes determine a single good to be used as money. This good becomes Select one: O a. neither a unit of account nor a medium of exchange O b. a unit of account but not a medium of exchange O c. a medium of exchange and a unit of account O d. a medium of exchange but not a unit of account

Prisoners sometimes determine a single good to be used as money. This good becomes Select one: O a. neither a unit of account nor a medium of exchange O b. a unit of account but not a medium of exchange O c. a medium of exchange and a unit of account O d. a medium of exchange but not a unit of account

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Give me both part of answer
A financial firm that takes deposits from households and firms is Select one: A. a central bank. B. a credit company. C. a pawn shop. D. a usurer. O E. a depository institution.
The functions of money are a. medium of exchange, the ability to buy goods and services, and checking accounts. O b. store of value, use as a barter mechanism, and unit of account. О с. medium of exchange, the ability to buy goods and services, and the ability to pay off debts. d. medium of exchange, unit of account, and store of value. e. credit cards, checking accounts, currency, and coins.
Which of the following are tools the Federal Reserve uses to control the supply of mone Select one: O a. Open market operations O b. Term auction facility c. Interest of reserves d. Discount rate e. All of the above O O O
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Assume that you are interested in earning some returnon the idle balances you usually keep in your checkingaccount and decide to buy some money market mutualfunds shares by writing a check. Comment on the effectof your action (with everything else the same) on M1and M2
QUESTION 4 Peter withdraws $5000 from his savings account. Then he deposits $4000 in his checking account and puts the remaining $1000 in a safe box in his house. What is the overall effect of these actions on M1 and M2? O A. M1 rises by $5000, M2 falls by $5000 O B. M1 is unchanged, M2 is unchanged O C. M1 rises by $5000, M2 is unchanged O D. M1 is unchanged, M2 falls by $5000
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