Which of the following is not part of M1?
a. Checking accounts.
b. Coins.
c. Credit cards.
d. Paper currency.
c
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Refer to Figure 4.8. The game described in the payoff graph has the characteristics of a(n) ________ game
A) assurance B) prisoner's dilemma C) chicken D) pure coordination
If the Fed has the discretion to choose its policy and announces a low inflation policy, then
a. the public is likely to discount this claim because the Fed has an incentive to change their policy in the future. b. the public is likely to believe this claim because the Fed has no incentive to change their policy in the future. c. the Fed will always cheat and increase inflation in the future. d. the Fed will have to keep inflation lower in the future or they will be voted out of office. e. none of the above.
A firm in a perfectly competitive market:
a. ?can decrease its supply to increase the market price. b. ?can increase its supply to lower the market price. c. ?has to accept the market price for its product. d. ?has to lower the price of its product to sell more output. e. ?can raise the price of its product and sell more output.
Along a given indifference curve, a consumer reduces the quantity of one good in favor of more units of the other. In this situation
A. total utility rises. B. the marginal utility of the first rises and the marginal utility of the second good falls. C. the marginal rate of substitution falls. D. both A and B are correct.