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Quiz4Practice - EC102 Quiz 4 Elena Quercioli Crap, it's...

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EC102 Quiz 4 Elena Quercioli April 13, 2007 Clearly indicate a first choice and a second choice. If your first choice is right, you get 7 points. If your second choice is right, you get 2 points. If both are wrong, you get 0. If you are unsure, guessing is your best option. Crap, it’s Friday the 13th! 1) Link up the following people and concepts, listing in the central column: A Bretton Woods 1 Happens with fiat money B John Maynard Keynes 2 Promises versus gold C Irving Fisher 3 Circulating gold coins are chipped D The Great Depression 4 The short run demand for money E Fiat versus commodity money 5 Greater for $5 than $100 F Velocity 6 Quantity theory of money G Inflation tax 7 Established the gold standard H Gresham’s Law 8 money grows faster than GDP I Seigniorage 9 1929-1937 2) Suppose that banks have a 20% reserve requirement, and that the Federal Reserve raises the cash in circulation by $1M. Then the money supply rises by a. $1 million b. $2 million c. $5 million d. $10 million e. $20 million
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3) About how big is the U.S. GDP and per capita GDP, respectively?
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Quiz4Practice - EC102 Quiz 4 Elena Quercioli Crap, it's...

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