M1 includes currency held in bank vaults
a. True
b. False
Indicate whether the statement is true or false
False
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The Federal Reserve System is the
A) insurance agency the insures deposits. B) central bank of the United States. C) law enforcement agency that tracks counterfeit money. D) federal government agency that undertakes deregulation for depository institutions.
The market price of a factor of production that is in fixed supply is determined only by demand
Indicate whether the statement is true or false
If the MPC = 0.75, MPS must be _______ and the income multiplier is _______
a. 0.25; 4 b. 0.25; 5 c. 0.75; 5 d. 1.50; 5 e. 4; 0.25
What two factors are necessary for demand?
a. desire for a good or service and its availability in the market b. desire for a good or service and the ability to pay for it c. the availability of a good or service and the ability to pay for it d. familiarity with a good or service and the desire to pay for it