The M2 money supply is about ________ times larger than the M1 money supply
A. 1.5
B. 4
C. 8
D. 13
B. 4
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Goods and services that the United States sells to other nations are called
A) exchanges. B) world goods. C) imports. D) exports. E) bartered goods.
The snob effect corresponds best to a
A) negative network externality. B) Giffen good. C) positive network externality. D) bandwagon effect.
Product differentiation:
a. is carried out by both perfectly competitive and monopolistically competitive firms. b. is succesful if a firm faces a relatively inelastic demand curve. c. does not allow the firm to raise its price without losing all of its customers. d. cannot be accomplished through advertising or trivial product changes. e. if carried out successfully enables the firms to enjoy market power.
Suppose the real exchange rate of 10 Mexican pesos to the dollar changes to 9 pesos to the dollar. In this situation, the dollar has __________________, making American goods __________ expensive for Mexicans
A) appreciated; less B) appreciated; more C) depreciated; less D) depreciated; more