Which of the following is not counted as part of M1?
A. coins
B. Federal Reserve notes or " paper money"
C. passbook savings deposits
D. checkable deposits
Answer: C
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If an economy has to sacrifice only one unit of good X for each unit of good Y produced throughout the relevant range, then its production possibilities curve has a(n):
A) zero slope. B) constant, negative slope. C) increasing, negative slope. D) decreasing, negative slope.
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