Which of the following items is included when computing M1?
a. Checking accounting entries.
b. Currency in circulation.
c. All of the above.
d. None of the above.
c
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The real discount rate and the nominal discount rate differ in their treatment of
A) risk. . B) market return. C) inflation. D) expected risk.
A firm's demand for labor is known as a "derived demand" because:
a. the firm gains utility from hiring more labor. b. the amount of labor hired depends upon how much output the firm can sell. c. the wage rate paid to workers is derived from the market for labor. d. it's derived from the demand for capital.
Consider two individuals — Marquis and Serena — each of whom would like to wear sweaters and eat tasty food. The gains from trade between Marquis and Serena are most obvious in which of the following cases?
a. Marquis is very good at knitting sweaters and at cooking tasty food, but Serena's skills in both of these activities are very poor. b. Marquis and Serena both are very good at cooking tasty food, but neither has the necessary skills to knit a sweater. c. Marquis's cooking and knitting skills are very poor, and Serena's cooking and knitting skills are also very poor. d. Marquis's skills are such that he can produce only sweaters, and Serena's skills are such that she can produce only tasty food.
The StolperSamuelson theorem suggests that, over time, free international trade should lead to:
a. equalization of real wages across the world. b. greater divergences in real wages across the world. c. equalization of prices across the world. d. greater divergences in prices across the world.