Credit cards are i. a generally accepted form of payment and therefore part of M1. ii. included in M1 because you write a check to pay your monthly bill. iii. a means of borrowing money
A) i only
B) ii only
C) iii only
D) i and ii
E) i and iii
C
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A price floor is
a. a maximum price above which the good cannot be legally bought or sold b. the lowest price buyers are willing to pay for a good. c. a minimum price below which the good cannot be legally bought or sold. d. a minimum price above which the good cannot be legally bought or sold.
When a good is not excludable but is rival in consumption the:
A. good is likely a private good. B. free rider problem may arise. C. good is likely a common resource. D. tragedy of the commons may arise.
The long-run aggregate supply curve will shift to the right if the:
A. economy loses productive capacity. B. profit levels of firms increase. C. economy experiences a supply shock. D. potential output of the economy expands.
The immediate effect of increased population growth, with real GDP growth unchanged, is to
A. increase economic growth by stimulating more saving. B. leave economic growth unchanged. C. reduce economic growth by reducing per capita real GDP. D. increase economic growth by boosting the capital stock.