Which of the following is not a part of M1?
a. Cash in the hands of the public.
b. Demand deposits.
c. Traveler's checks.
d. Money market mutual fund (MMMF) balances.
e. Corporate stocks.
D
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Reverse causality can create confusion between correlation and causation. What does reverse causality imply?
What will be an ideal response?
A downward-sloping demand curve shows:
a. the direct relationship between price and quantity supplied; as price increases, the quantity supplied increases. b. the inverse relationship between price and quantity supplied; as price increases, the quantity supplied decreases. c. the direct relationship between price and quantity demanded; as price increases, the quantity demanded increases. d. the inverse relationship between price and quantity demanded; as price increases, the quantity demanded decreases.
The debate over the efficiency of markets in which products with brand names are sold
a. is framed by the role of regulation in advertising. b. is likely to be resolved by reference to anecdotal evidence. c. hinges on whether consumers are rational in their choices. d. hinges on the effectiveness of advertising that identifies price differences.
Implicit cost refers to:
A. salary paid to the factors of production. B. any increase in the value of the assets owned by the firm. C. the amount a firm receives for selling its product or service. D. the opportunity cost of factors of production provided by the owners of the firm.