The U.S. money supply measure that consists of currency plus travelers checks and check able deposits is referred to as

a. M1.
b. M2.
c. M3.
d. M1 + M2.


a. M1.

Economics

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A shortage occurs when price is higher than the market equilibrium.

Answer the following statement true (T) or false (F)

Economics

Income taxes are taxes paid on wages and investment income

Indicate whether the statement is true or false

Economics

New classical economists contend that an unexpected increase in the money supply will:

a. increase the unemployment rate in the short run. b. reduce the unemployment rate in the short run. c. cause no short-run change in the unemployment rate. d. reduce the unemployment rate in the long run. e. increase the unemployment rate in the long run.

Economics

If a firm faces a horizontal demand curve, marginal revenue

a. is constant regardless of how much output the firm produces b. decreases as the firm produces more output c. increases as the firm produces more output d. decreases if the firm produces less output e. is less than price at most possible output levels

Economics