M1 consists of currency, demand deposits, traveler’s checks, and other checkable deposits.
Answer the following statement true (T) or false (F)
True
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Marginal cost is the
A. change in total cost resulting from the purchase of one more unit of the variable input. B. change in total cost resulting from the production of one more unit of output. C. difference between total fixed cost and total variable cost. D. difference between total cost and total expenditure.
All else equal, if the interest rate is 5%, what is the PDV of a lottery prize that pays $1,000,000 today and $1,000,000 each year for the next 19 years?
A. $10,500,000 B. $12,462,210 C. $13,085,321 D. $20,000,000
The goal of expansionary fiscal policy is to shift the _________ curve to the _________
Fill in the blank(s) with the appropriate word(s).
Recall the Application about the price and supply of blueberries to answer the following question(s).According to the Application, the supply of blueberries in the short run is ________, so an increase in demand causes the price to ________.
A. flexible; rise B. flexible; fall C. inflexible; rise D. inflexible; fall