Outstanding U.S. dollar-denominated travelers' checks issued by non-bank institutions are not counted as part of the M1 money supply
a. True
b. False
Indicate whether the statement is true or false
False
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Identify the public good in the following
a. A small library with a limited collection of books b. A crowded children's park in your neighborhood c. The visit to a museum which charges a nominal entry fee d. The scenic view of the ocean from a beach
Suppose wheat farmers are price takers. If wheat farmers are currently making economic profits, over time we would expect that
a. existing wheat farmers would plant more acres of wheat. b. farmers growing other crops would switch some of their land from these crops to the growing of wheat. c. the wheat farmers will continue to earn economic profits because they would be driven out of business without such profit. d. both a and b are correct.
Suppose the price of a Snickers candy bar is $2.00 at both the airport and the grocery store. The price elasticity of demand for a Snickers candy bar at an airport is likely to be ________ the price elasticity of demand for a Snickers candy bar at the grocery store.
A. greater than B. equal to C. the reciprocal of D. less than
The labor force participation rate is defined as
a) the ratio of employment to the labor force b) the ratio of the working-age population to the total population c) the ratio of employment to the total population d) the ratio of the labor force to the civilian, non-institutionalized, working-age population e) the number of hours worked per week divided by 40