Credit cards are
a. a medium of exchange.
b. counted as part of M2 but not as part of M1.
c. important for analyzing the monetary system.
d. All of the above are correct.
c
You might also like to view...
Ice Cream ConesTotal Utility150 280 395 495 Using Table 5-3, graph the marginal utility curve.
What will be an ideal response?
Consider a used car market in which half the cars are good and half are bad (lemons). If buyers are rational, the prices being offered for used cars will result in
A) a larger proportion of good cars being sold and consequently, consumer surplus is increased. B) an equal proportion of good cars and lemons being sold in an inefficient market. C) a larger proportion of lemons being sold and consequently, producer surplus is increased. D) an equal proportion of a good cars and lemons being sold in an efficient market.
When the court requires evidence that a monopoly actually used its size to violate antitrust laws, this criterion is called
a. rule of reason b. Sherman antitrust c. per se d. countervailing power e. creative destruction
Refer to the above table. At an output of 3 units, average variable costs are
A. $14. B. $42. C. $30. D. $44.