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1、EconomicsofMoney,Banking,andFinancialMarkets,11e(Mishkin)Chapter19QuantityTheory,InflationandtheDemandforMoney19.1QuantityTheoryofMoney1)ThequantitytheoryofmoneyisatheoryofhowA)themoneysupplyisdetermined.B)interestratesaredetermined.C)thenominalvalueofaggregateincomeisdetermined.D)therea
2、lvalueofaggregateincomeisdetermined.Answer:CAACSB:ReflectiveThinking2)Becausethequantitytheoryofmoneytellsushowmuchmoneyisheldforagivenamountofaggregateincome,itisalsoatheoryofA)interest-ratedetermination.B)thedemandformoney.C)exchange-ratedetermination.D)thedemandforassets.Answer:BAACSB
3、:ReflectiveThinking3)TheaveragenumberoftimesthatadollarisspentinbuyingthetotalamountoffinalgoodsandservicesproducedduringagiventimeperiodisknownasA)grossnationalproduct.B)thespendingmultiplier.C)themoneymultiplier.D)velocity.Answer:DAACSB:ReflectiveThinking4)ThevelocityofmoneyisA)theaver
4、agenumberoftimesthatadollarisspentinbuyingthetotalamountoffinalgoodsandservices.B)theratioofthemoneystocktohigh-poweredmoney.C)theratioofthemoneystocktointerestrates.D)theaveragenumberoftimesadollarisspentinbuyingfinancialassets.Answer:AAACSB:ReflectiveThinking5)Ifthemoneysupplyis$500and
5、nominalincomeis$3,000,thevelocityofmoneyisA)1/60.B)1/6.C)6.D)60.Answer:CAACSB:AnalyticalThinking23Copyright©2016PearsonEducation,Inc.6)Ifthemoneysupplyis$600andnominalincomeis$3,000,thevelocityofmoneyisA)1/50.B)1/5.C)5.D)50.Answer:CAACSB:AnalyticalThinking7)Ifthemoneysupplyis$500andnomin
6、alincomeis$4,000,thevelocityofmoneyisA)1/20.B)1/8.C)8.D)20.Answer:CAACSB:AnalyticalThinking8)Ifthemoneysupplyis$600andnominalincomeis$3,600,thevelocityofmoneyisA)1/60.B)1/6.C)6.D)60.Answer:CAACSB:AnalyticalThinking9)IfnominalGDPis$10trillion,andthemoneysupplyis$2trillion,velocityisA)0.2.
7、B)5.C)10.D)20.Answer:BAACSB:AnalyticalThinking10)IfnominalGDPis$8trillion,andthemoneysupplyis$2trillion,velocityisA)0.25.B)4.C)8.D)16.Answer:BAACSB:AnalyticalThinking11)IfnominalGDPis$10trillion,andvelocityis10,themoneysupplyisA)$1trillion.B)$5trillion.C)$10trillion.D)$10
