The narrowest definition of the money supply (M1) includes
a. cash and travelers' checks.
b. cash, travelers' checks, and savings account balances.
c. cash, checking account balances, and travelers' checks.
d. cash, bank deposits, and money market accounts.
c
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Given the demand curve in Figure 5-24, explain how consumer’s surplus is calculated.
What will be an ideal response?
If national income increases by $20 million and consumption increases by $5 million, the marginal propensity to consume is
A) 4. B) 0.75. C) 0.5. D) 0.25.
An unchallenged monopoly in a product market has a tendency to be lazy, but that tendency can be limited by the capital market
Indicate whether the statement is true or false
This factor contributes to the winner's curse
a. your estimate of the value of the object was not the most optimistic b. your bid was not the highest c. there were not many other bidders you had to beat out d. you shaded your bid a lot