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ECO 4223 Exam 3 With Questions And 100% ALL CORRECT ANSWERS
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JACKLINEECO 4223 Exam 3 With Questions And 100% ALL CORRECT ANSWERS
Terms in this set (43)
The quantity theory of money is a theory of how: the nominal value of aggregate income is determined
a. the money supply is determined
b. the real value of aggregate income is
determined
c. interest rates are determined
d. the nominal value of aggregate income is
determined
The average number of times that a dollar is velocity
spent in buying the total amount of final goods
and services produced during a given time
period is known as:
a. velocity
b. spending multiplier
c. gross national product
d. the money multiplier
ECO 4223 Exam 3
1/9
, 10/4/24, 10:29 AM
If the money supply is $500 and nominal income 6
is $3,000 the velocity of money is:
a. 1/60
b. 60
c. 1/6
d. 6
The equation of exchange states that the nominal income
quantity of money multiplied by the number of
times this money is spent in a given year must
equal:
a. velocity
b. real income
c. nominal income
d. real gross national product
Fisher's quantity theory of money suggests that income, interest rates have
the demand for money is purely a function of
______, and ___________ not effect on the demand for
money.
a. government spending, interest rates have
b. income, interest rates have
c. interest rates, income has
d. expectations, income has
Keynes hypothesized that the transactions income
component of money demand was primarily
determined by the level of:
a. income
b. velocity
c. stock market values
d. interest rates
Keynes argues that the transactions component transactions, income
of the demand for money was primarily
determined by the level of people's _____ , which
he believed were proportional to ___ _.
a. incomes, age
b. transactions, age
c. incomes; wealth
d. transactions, income
ECO 4223 Exam 3
2/9
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