Currency held outside the banking system is included
A) in M1 but not M2.
B) in M2 but not M1.
C) in both M1 and M2.
D) in neither M1 nor M2.
C
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To examine how total production in an economy has changed over time, it would be better to examine
A) nominal GDP. B) real GDP. C) GDP at current prices. D) All of the above would give equal measures of production changes over time.
Which of the following is true of a payoff matrix?
A) It is the representation of only the best response of each player. B) It takes into account all relevant costs and benefits associated with each action of the players. C) It shows the payment made to each factor of production for the production of a good. D) It does not represent all the costs and benefits associated with the choices of the players.
External government debt is:
A. government debt owed by one branch of the government to another. B. government debt owed to individuals in foreign countries. C. government debt owed to its own citizens. D. debt that individuals in foreign countries owe to the U.S. government.
An unemployment rate of 10% means that the average worker has been unemployed for 10% of the year.
Answer the following statement true (T) or false (F)