If both a buyer and a seller have the same information, they are said to have symmetric information
a. True
b. False
Indicate whether the statement is true or false
True
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The M1 measure of money consists of the sum of:
A. checking deposits and travelers' checks. B. currency, checking deposits, and travelers' checks. C. currency, checking deposits, and savings deposits. D. currency and travelers' checks.
A bridge built by the government of Ritzland collapsed in the same year it was constructed. If the total cost of building the bridge was $4 million, which of the following will happen as a result of its collapse?
A) Ritzland's GDP will decrease. B) Ritzland's GDP will remain unchanged. C) Ritzland's trade surplus will increase. D) Ritzland's trade deficit will increase.
If you deposit $1,000 in cash in your checkable deposit at your bank, the quantity of M1 immediately
A) increases by $1,000. B) decreases by $1,000. C) does not change in size. D) increases by $2,000. E) changes, but more information about the required reserve ratio is necessary to determine the amount of the change.
Which of the following statements is correct?
a. In the long run, both perfectly competitive firms and monopolistically competitive firms operate with excess capacity. b. A firm operates with excess capacity when, in the long run, its level of output is below the efficient scale. c. For any firm, efficient scale is the level of output at which the average-total-cost curve is tangent to the demand curve. d. All of the above are correct.