The M1 measure of money includes
A) small denomination time deposits.
B) traveler's checks.
C) money market deposit accounts.
D) money market mutual fund shares.
B
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Which of the following statements is true?
A) Positive economics deals with issues that are subjective. B) Normative statements depend on personal preferences. C) Positive economics recommends what people ought to do. D) Normative economic statements can be confirmed or disproven.
For each short-run average total cost curve, the ________ the plant, the ________ is the output at which average total cost is at a ________
A) larger; greater; maximum B) larger; greater; minimum C) larger; smaller; minimum D) smaller; smaller; minimum
Most payments in the United States for goods and services are made using
A) currency. B) traveler's checks. C) checking account deposits. D) gold.
Under a gold standard, if the market price of gold is below the official price of gold (set by the monetary authority) members of the public would likely buy gold _______________ and sell it __________________, causing the market price of gold to ____________________
A) from the monetary authority; in the gold market; fall B) from the monetary authority; in the gold market; rise C) in the gold market; to the monetary authority; fall D) in the gold market; to the monetary authority; rise