Checking accounts that pay interest are included in the
A) "other checkable deposits" part of M1.
B) "savings deposits" part of M2.
C) "demand deposits" part of M1.
D) "money market mutual funds deposits" part of M2.
A
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In economics, money is
A) a financial instrument backed by some precious metal such as gold or silver. B) whatever the government defines it to be. C) anything that people generally accept in exchange for goods and services. D) another term for income.
Modern work in economic history by people like Robert Fogel (1964) and Albert Fishlow (1965) shows
(a) that railroads were the indispensable key to rapid economic growth in the 19th century. (b) that the levels of Gross National Product (GNP) reached in 1890 would have been reached in 1880 had it not been for reckless railroad speculation. (c) that less than 5% of the country's late 19th-century economic growth was attributable to railroads. (d) none of the above.
Trade restrictions result in all of the following except one. Which is the exception?
a. higher prices b. fewer choices c. improved quality d. misallocation of resources e. reduced competition
Any reserves that banks hold in excess of required reserves are called
A) excess reserves. B) margin reserves. C) federal reserves. D) surplus reserves.