The components of the U.S. M1 money supply are demand and checkable deposits plus
A) currency.
B) currency plus savings deposits.
C) currency plus travelers checks.
D) currency plus travelers checks plus money market deposits.
C
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The central question in economics is how to
A. make the best use of scarce resources. B. use government planning agencies. C. induce people to want less. D. increase human knowledge.
List three changes that lead to a shift of the aggregate supply curve. Discuss why each change shifts the aggregate supply curve and in which direction the curve shifts
What will be an ideal response?
In monopolistic competition, in the long run customers pay a price that is
A) less than the minimum ATC. B) more than the minimum ATC. C) equal to both the minimum ATC and the minimum AVC. D) equal to the minimum ATC, but not equal to the minimum AVC.
When a unit tax is placed on suppliers they are generally able to _____
a. lobby to get the tax repealed b. shift the tax payment to the demanders c. shift part of the tax burden to the demanders in the form of a secondary tax d. shift part of the tax burden to the demanders in the form of a higher price