Which of the following best defines what money is now and what it has been in the past?
A) currency plus credit cards
B) anything accepted as a means of payment
C) currency
D) anything used as a store of value
E) currency plus checking deposits
B
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The figure above shows the U.S. demand and U.S. supply curves for cherries. Suppose the world price of cherries is $2 per pound. At this price, U.S. consumption of cherries will equal
A) 200,000 pounds. B) 400,000 pounds. C) 600,000 pounds. D) 800,000 pounds. E) 0 pounds.
Most transactions between large financial institutions in the United States are handled by
A) check. B) Fedwire. C) currency. D) ACH.
If the U.S. real exchange rate with Japan is greater than 1, then U.S. goods are relatively cheap
a. True b. False Indicate whether the statement is true or false
In Figure 1.2, which labeled point indicates that there are insufficient resources or technology to produce the combination of goods represented by that point? 
A. only A B. only C C. only D D. A, B, and C