Which of the following are included in the M1 definition of money?
A) currency and checkable deposits
B) currency and savings deposits
C) traveler's checks and money market mutual funds
D) currency and small time deposits
E) traveler's checks and savings deposits
A
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The ongoing normal creation and destruction of jobs creates
A) frictional unemployment. B) structural unemployment. C) avoidable unemployment. D) cyclical unemployment. E) destructive unemployment.
The figure above represents the relationship between output and cost in an industry with an external cost. Which line represents the marginal private cost (MC) curve?
A) Curve 1 B) Curve 2 C) the dotted line BC D) the y-axis E) the dotted line AB
The interpretation of the slope coefficient in the model ln(Yi) = ?0 + ?1Xi + ui is as follows:
A) a 1% change in X is associated with a ?1 % change in Y. B) a change in X by one unit is associated with a ?1 change in Y. C) a change in X by one unit is associated with a 100 ?1 % change in Y. D) a 1% change in X is associated with a change in Y of 0.01 ?1.
Economic freedom:
a. is the right to own property. b. means not having to pay taxes. c. is absent in rich countries. d. affects only poor people. e. is the ability to engage in voluntary trade.