In Australia, the Quantity of M1 Is $150 Billion, the Currency

question 95

Multiple Choice

In Australia, the quantity of M1 is $150 billion, the currency drain ratio is 33 percent of deposits and the reserve ratio is 8 percent of deposits.What is the monetary base?

• A)$39.50 billion
• B)$12.00 billion
• C)$46.24 billion
• D)$395.12 billion
• E)$49.50 billion

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Definitions:

Categorical Variables

Variables that represent categories and can take on a limited, and usually fixed, number of possible values.

Degrees Of Freedom

The number of independent values or quantities which can be assigned to a statistical distribution or in the calculation of a statistic, typically in the context of parameter estimation.

Chi-Square Distribution

A statistical distribution used to describe the distribution of a sum of the squares of independent random variables.

ANOVA

Analysis of Variance, a statistical method used to compare the means of three or more groups to see if at least one is statistically significantly different from the others.