Which of the following statements is true?
A) A savings deposit is not counted in the most basic, or narrow, definition of the money supply.
B) M1 is sometimes referred to as transactions money.
C) Money reduces the transaction costs of making exchanges.
D) b and c
E) a, b, and c
E
You might also like to view...
If production of a good creates an external cost, the amount of output where the marginal social benefit equals the marginal private cost is
A) inefficient. B) inequitable. C) unattainable. D) efficient.
Carmelita can perform either a combination of 35 manicures and 70 pedicures or a combination of 50 manicures and 45 pedicures. If she now performs 35 manicures and 70 pedicures, what is the opportunity cost of performing an additional 15 manicures?
A) 5 pedicures B) 20 pedicures C) 25 pedicures D) 45 pedicures
How many countries in the world have failed to come up with the rules of the game that lead to sustained economic growth?
a. none b. most c. half d. one e. There is not enough data to answer this question
Which of the following statements is true?
A. In large samples there are not many discrepancies between the outcomes of the F test and the LM test. B. Degrees of freedom of the unrestricted model are necessary for using the LM test. C. The LM test can be used to test hypotheses with single restrictions only and provides inefficient results for multiple restrictions. D. The LM statistic is derived on the basis of the normality assumption.