M1 refers to:
a. Federal Reserve Notes and gold certificates.
b. Currency held by the public plus checking account balances.
c. The largest of the money-supply definitions.
d. None of these.
b
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The U.S. government has accumulated a net national debt of almost 60% of GDP. Compared to other countries, this is:
a. smaller than that of many fiscally healthy countries b. larger than that of many fiscally healthy countries c. about the same as that of troubled debtor nations d. larger than that of troubled debtor nations
An increase in the U.S. trade deficit could be caused by
A. The imposition of a tariff on imported goods. B. An appreciation of the dollar. C. An increase in the rate of inflation in other countries. D. A depreciation of the dollar.
Refer to the diagram. Which of the following would shift the investment demand curve from ID 1 to ID 3 ?
A. A lower interest rate.
B. Lower expected rates of return on investment.
C. A higher interest rate.
D. Higher expected rates of return on investment.
Susie spends more of October thinking about her Halloween costume than she spends thinking about a proposed law that will be on the November ballot. Which of the following is true?
a. This behavior is rational if she expects a greater benefit from the costume than from any possible effect her vote could have on the proposed law. b. This behavior is rational if she is planning to spend the time from Halloween to Election Day thinking about the law. c. This behavior is not rational because the law is more important than the costume. d. In order for this behavior to be considered rational, it would have to be true that Susie is too ignorant to fully understand the law. e. In order for this behavior to be considered rational, it would have to be true that Susie would not be affected by the law.