The amount of U.S. currency in circulation in 2014 was approximately $1,200 billion. The inflation rate in 2014, as measured by the percentage change in the personal consumption expenditures (PCE) deflator, was about 1.3 percent. If U.S. federal government revenue in 2014 was $3,000 billion, then seigniorage represented approximately _____ percent of revenue in 2014.

The amount of U.S. currency in circulation in 2014 was approximately $1,200 billion. The inflation rate in 2014, as measured by the percentage change in the personal consumption expenditures (PCE) deflator, was about 1.3 percent. If U.S. federal government revenue in 2014 was $3,000 billion, then seigniorage represented approximately _____ percent of revenue in 2014.

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter2: The One Lesson Of Business

Section: Chapter Questions

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The amount of U.S. currency in circulation in 2014 was approximately $1,200 billion. The inflation rate in 2014, as measured by the percentage change in the personal consumption expenditures (PCE) deflator, was about 1.3 percent. If U.S. federal government revenue in 2014 was $3,000 billion, then seigniorage represented approximately _____ percent of revenue in 2014.

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