M1 consists of
A) currency only.
B) currency plus travelers checks only.
C) currency plus checkable deposits only.
D) checkable deposits only.
E) none of the above
E
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Explain why some amount of ignorance can be rational
What will be an ideal response?
One important issue in the post-bellum currency debate concerned the coinage of silver by the federal government. Which of the following statements presents accurate information regarding the silver debate?
a. Silver circulated widely as money in the years immediately prior to the Coinage Act of 1873. b. The Bland-Allison Act allowed for the Treasury to make limited monthly silver purchases at the market price. c. Post-Civil War there was a fall in the output of American silver mines. d. Congress passed the Coinage Act in 1873 despite widespread public opposition to this legislation at the time.
A skilled worker is an example of:
a. unproductive resources. b. land resources. c. labor resources. d. capital resources. e. both labor and capital resources.
In which setting are the transaction costs of making an exchange likely to be the highest?
A) buying cereal at the grocery store B) buying a house C) buying a computer over the Internet D) buying stock in a company E) buying a Big Mac at McDonald's