Traveler's checks are included in which of the following?
A. M2 only.
B. M1 only.
C. Both M1 and M2.
D. None of the choices are correct.
Answer: C
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A firm's profit can be calculated by subtracting its total revenue from its total costs
a. True b. False Indicate whether the statement is true or false
Excess reserves are important to a banker because
A. if they are not maintained, banking regulators may shut the bank down. B. they are the profits that are divided among the bank's owners. C. they represent the funds available to use to acquire income-producing assets such as loans and securities. D. they indicate profitable banking practices.
All of the following are objectives of the Federal Reserve system, except
A. to furnish an elastic currency. B. to conduct monetary policy. C. to accept deposits from individuals. D. to serve as a lender of last resort to commercial banks and thrift institutions.
Coordination problems in large firms might lead to:
A. horizontal marginal cost curves. B. downward-sloping marginal cost curves. C. upward-sloping short-run average cost curves. D. upward-sloping long-run average cost curves.