money in the United States includes
What will be an ideal response?
the currency and bank deposits held by the nonbanking public.
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Changes in relative prices occur when
A) all prices move together. B) all exchange rates move together. C) product prices change at different rates. D) exchange rate appreciation is greater than price appreciation.
Regarding the issue of slavery, the Constitution
(a) denounced it as being inconsistent with the rights of man and called for its eventual elimination, though it did not specify clearly how or when this was to be done. (b) gave slavery legitimacy and support. (c) made no mention of slavery, with the hope, apparently, that the individual states would deal with it if they saw it as a problem. (d) required that the slave trade be immediately banned with all slavery to be abandoned in twenty years.
If an economy is closed and if it has no government, then
a. national saving = 0. b. national saving = private saving. c. public saving = investment. d. gross domestic product = consumption.
In a free market, what happens if there is a surplus? The price ________.
a. falls b. rises c. stays the same d. rises in the short run and falls back to its original level in the long run