Which does M1 include?
a. Coins and currency in circulation, checkable deposits, and credit cards
b. Coins and currency in circulation, checkable deposits, and savings accounts
c. Coins and currency in circulation checkable deposits, and traveler’s checks
d. Coins and currency in circulation, coins and currency owned by banks, and traveler’s checks
c. Coins and currency in circulation checkable deposits, and traveler’s checks
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From 2007 to 2008, the Federal Reserve System reduced interest rates, the price which borrowers pay. As a result, economists expected that the quantity of money supplied would
a. increase. b. decrease. c. not change. d. Uncertain-economic theory has no answer to this question.
Which of the following is an example of an industrial union?
A. The United Auto Workers. B. The AFL-CIO. C. The International Brotherhood of Electrical Workers. D. The Carpenters Union.
Which of the following represents the effects in period t of an increase in the saving rate in period t?
A) no change in K/N B) no change in Y/N C) a reduction in C/N D) all of the above
Tyrell is consuming X and Y so that he is spending his entire income and MUx/Px = 7 and MUy/Py = 7. To maximize utility, he should consume
A. the same amount of X and Y since he is already maximizing utility. B. less X and more Y. C. less of both X and Y. D. more X and less Y.