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Tip 20.00Good evening,Can someone answer the following

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Tip 20.00
Good evening,
Can someone answer the following Economics Questions for me?

1. The statement, "My iPhone is worth $500" represents money's function as (Points : 1)
a medium of exchange.
a unit of account.
a store of value.
a standard of deferred payment.


2. Argentine banks were hampered by the government's decision to tie the peso to the U.S. dollar at a rate of one to one. This policy of fixing the peso to the dollar (Points : 1)
prevented the central bank from acting as the lender of last resort during a banking panic.
caused the Argentine public to lose faith in the ability of the Argentine currency to retain its value.
encouraged faith in the banking system and resulted in the public depositing large sums into Argentine banks.
caused inflation in the Argentine economy to greatly increase and subsequently decrease the purchasing power of the currency.


3. Banks can make additional loans when required reserves are (Points : 1)
greater than total reserves.
less than total reserves.
less than total deposits.
less than total loans.


4. Which of the following tools did the Fed employ during the stock market crash of 1987 and the Y2K difficulties in late 1999? (Points : 1)
contractionary open market operations
expansionary open market operations
changing the reserve requirement
making discount loans available


5. Monetary policy refers to the actions the (Points : 1)
President and Congress take to manage the money supply and interest rates to pursue their economic objectives.
Federal Reserve takes to manage the money supply and interest rates to pursue its economic objectives.
President and Congress take to manage government spending and taxes to pursue their economic objectives.
Federal Reserve takes to manage government spending and taxes to pursue its economic objectives.


6. Expansionary monetary policy to prevent real GDP from falling below potential real GDP would cause the inflation rate to be relatively ________ and real GDP to be relatively ________. (Points : 1)
higher; higher
higher; lower
lower; higher
lower; lower


8. From an initial long-run equilibrium, if aggregate demand grows more slowly than long-run and short-run aggregate supply, then the president and the Congress would most likely (Points : 1)
increase the required reserve ratio and decrease government spending.
decrease government spending.
decrease oil prices.
decrease taxes.
lower interest rates.


9. The Federal Reserve plays a larger role than the president and the Congress in stabilizing the economy because (Points : 1)
the Federal Reserve can more quickly change monetary policy than the president and the Congress can change fiscal policy.
the Federal Reserve can immediately recognize when the economy is below or above potential.
changes in interest rates have a considerably larger effect on the economy than changes in government purchases or taxes.
changes in interest rates have their full effect on the economy in a short period of time, whereas changes in government spending and taxes have their full effect over a long period of time.


10. Increased government spending will reduce long-run growth rate of real GDP if (Points : 1)
the government spending involves building dams and levees.
the private spending that is crowded out is investment spending.
the private spending that is crowded out is consumption spending.
the government spending involves increased spending on highways and bridges.

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