Money market mutual funds are included in
A) M1. B) M2.
C) both M1 and M2. D) neither M1 nor M2.
B
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Scarcity can be eliminated by
A) abolishing competition. B) abolishing capitalism. C) abolishing money. D) all of the above. E) none of the above.
Jane is willing to pay $4 for the first cup of coffee a day, $2.50 for the second cup, and $1 for the third cup, after which she won't buy any coffee. The price of a cup of coffee is $2.40
Jane's consumer surplus from the coffee she buys is ________ per day. A) $1.60 B) $1.70 C) $4.80 D) $6.50
An import quota or tariff on French wine that raises the prices for wine will probably a. hurt domestic wineries, which will lose business as a result of the higher prices
b. hurt both domestic wine drinkers and domestic wine producers because of a reduction in competition. c. hurt both domestic wine drinkers and domestic wineries but this will be more than offset by a reduction in driving fatalities. d. hurt domestic wine drinkers but help domestic wineries, which will gain from the higher prices.
Spending (Aggregate Demand or AD)
What will be an ideal response?