The largest proportion of M1 is made up of
A) currency.
B) checking account deposits.
C) traveler's checks.
D) savings account deposits.
B) checking account deposits.
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If the AVC is $12, the AFC is $4, the AR is $20, and output is 6,000 units, the total profit is
a. $72,000. b. $48,000. c. $24,000. d. negative $96,000.
According to the new classical view, if the money supply and prices fall but output remains the same indicates that
a. expectations must be adaptive. b. this change in the money supply was anticipated. c. aggregate supply must have shifted upward. d. none of the above can explain this.
An increase in the price of a good will a. increase supply
b. decrease supply. c. increase quantity supplied. d. decrease quantity supplied.
Gary and Diane must prepare a presentation for their marketing class. As part of their presentation, they must do a series of calculations and prepare 50 PowerPoint slides. It would take Gary 10 hours to do the required calculation and 10 hours to prepare the slides. It would take Diane 12 hours to do the calculations and 20 hours to prepare the slides
a. How much time would it take the two to complete the project if they divide the calculations equally and the slides equally? b. How much time would it take the two to complete the project if they use comparative advantage and specialize in calculating or preparing slides? c. If Diane and Gary have the same opportunity cost of $5 per hour, is there a better solution than for each to specialize in calculating or preparing slides?