Which of the following is included in M1?
a. savings accounts
b. money market deposit accounts
c. money market mutual funds
d. travelers' checks
e. None of the above are included.
d
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In the long run, profit-maximizing monopolists facing a downward-sloping demand curve
A. may earn profits greater than their opportunity costs of capital. B. do not produce every possible unit of output for which marginal utility is greater than or equal to marginal cost. C. may or may not have lower costs than perfectly competitive firms in the same industry. D. All of these responses are correct.
Which of the following is not an example of a price ceiling?
a. The Chinese government sets the price of housing in China below equilibrium. b. The government of the former Soviet Union sets the price on food below those prevailing in the free market. c. In the 1970s, the Nixon administration imposed wage and price controls, thereby keeping wages and prices from rising. d. In the late 1970s, the U.S. government required gasoline to be sold at a price per gallon that was below what would have prevailed in a free market. e. The U.S. government requires that sugar be sold at a price that exceeds the world price of sugar.
What is the present value of $1 that will be paid to you in 5 years if the interest rate is 7%? Work it out to the nearest tenth of a cent.
What will be an ideal response?
The ______ is defined as the percentage of the population earning less than a certain threshold.
a. poverty line b. working poor c. lowest quintile d. poverty rate