M2 refers to:
A. the most narrowly defined money supply definition.
B. currency held by the public minus checking account balances.
C. the value of the gold held by the government.
D. M1 plus near monies.
Answer: D
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Does the Invisible Hand Theorem remain true in the Prisoners' Dilemma game? Why or why not? What implication does this result have for cartels?
What will be an ideal response?
When the U.S. placed tariffs on French wine, France placed high tariffs on U.S. chickens. This is an example of
A) deadweight losses. B) multilateral negotiations. C) bilateral trade negotiations. D) international market failures. E) a trade war.
Assuming the economy is represented by the graph shown, if the government were to enact a partially successful expansionary fiscal policy, it would be most likely to:
A. move from equilibrium A to B.
B. move from equilibrium B to A.
C. cause unemployment to temporarily increase.
D. cause deflation.
According to the paradox of thrift, the more people try to save, the more income falls, leaving them with no more, and possibly less, income
Indicate whether the statement is true or false