Traveler's checks are included in
a. M1 but not M2.
b. M2 but not M1.
c. M1 and M2.
d. neither M1 nor M2.
c
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The candy store represented in the figure to the right is currently selling Qa units of candy at a price of Pa. Is this candy store maximizing its profit and if it is? not, what would you recommend to the? firm?
A) Yes, it is maximizing its profit by charging the highest price possible.
B) No, it is not; since its marginal cost is constant, it should produce and sell as much candy as it can. It should sell Qd units at a price of Pd.
C) No, it is not; it should lower its price to Pc and sell Qc units.
D) No, it is not; it should lower its price to Pb and sell Qb units.
How can the Cambridge equation be restated according to Friedman's money demand theory?
a. Md = k(rB, rE, rD)Py b. Md = k/Py(rB, rE, rD) c. Md = Py/k(rB, rE, rD) d. Md = (rB, rE, rD)Py/k
Your Social Security contributions accumulate in a personal account during your working years, creating a savings balance from which retirement, disability, and health benefits are later paid
Indicate whether the statement is true or false
All economic transactions involve only buyers and sellers; no third parties are involved
a. True b. False Indicate whether the statement is true or false