The M1 definition of the money supply includes, along with currency,
a. demand deposits and savings accounts
b. demand deposits and credit cards
c. demand deposits and debit cards
d. demand deposits and travelers' checks
e. travelers' checks and credit cards
D
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Marginal factor cost is defined as the amount that an additional unit of the variable input adds to ____
a. marginal cost b. variable cost c. marginal rate of technical substitution d. total cost e. none of the above
For a country in the process of development, a high saving rate is generally
A. helpful, because it makes resources available for investment. B. helpful, because it causes a rapid growth of aggregate demand and thus makes it easier to capture economies of scale. C. harmful, because it causes a stagnation of aggregate demand. D. harmful, because it promotes imports of consumer goods.
How does a move from no free trade to international free trade alter production and consumption in both the importing and exporting country in a two-country world?
What will be an ideal response?
The United States has relatively low tariffs.
Answer the following statement true (T) or false (F)