A nominal wage is: a. always equal to the legal minimum wage. b. ...

[V@ndy87]

A nominal wage is:
 a. always equal to the legal minimum wage.
 b. the same as the efficiency wage.
 c. measured in terms of the amount of goods and services it can purchase.
  d. measured in current dollars rather than in constant dollars.
 e. measured in constant dollars rather than in current dollars.

Question 2

By reducing the required reserve ratio, the Fed can not only create excess reserves but also increase the money multiplier.
 a. True
  b. False
  Indicate whether the statement is true or false

[al]

Answer to Question 1

d

Answer to Question 2

True