Which of the following is NOT part of M1?
A) credit cards
B) checking accounts
C) currency
D) traveler's checks
A
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A market equilibrium:
A. leaves unexploited opportunities for individuals. B. exploits all gains achievable through collective action. C. leaves no unexploited opportunities for individuals. D. maximizes total economic surplus.
When economists say the demand for a product has increased, they mean the
a. demand curve has shifted to the right. b. price of the product has fallen, and consequently, consumers are buying more of it. c. cost of producing the product has risen. d. amount of the product that consumers are willing to purchase at various prices has decreased.
The Gini coefficient is calculated by measuring the area between:
A. the Lorenz curve and the x-axis. B. the Lorenz curve and the y-axis. C. the line of perfect equality and the Lorenz curve. D. the line of perfect inequality and the Lorenz curve.
Dividends are
A. corporate profits distributed to shareholders. B. promissory notes issued by corporations. C. government profits distributed among bondholders. D. capital gains realized by stockholders.