In the United States at the end of 2012, the total money supply, M1, amounted to approximately
A) 16 percent of that year's GNP.
B) 20 percent of that year's GNP.
C) 30 percent of that year's GNP.
D) 40 percent of that year's GNP.
E) 50 percent of that year's GNP.
A
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The United States is best known as a
A) pure price system. B) dictatorship. C) command and control system. D) mixed economic system.
If Utopia opened itself to trade it would 
A. import 250 cases of tile per year. B. export 450 cases of tile per year. C. export 100 cases of tile per year. D. import 150 cases of tile per year.
Which of the following statements is most accurate about capital accumulation in a market system?
A. Capital good production is the primary driver of the demand for consumer goods. B. Capital accumulation is generally insufficient because consumers don't directly cast dollar votes for capital goods. C. The invisible hand directs the production of consumer goods, but government planning is required to effectively allocate resources to capital goods. D. Entrepreneurs and business owners cast dollar votes for capital goods based on the profitability of goods and services they sell to consumers.
When price is $6
A. there is a surplus.
B. there is a shortage.
C. there is both a surplus and a shortage.
D. there is neither a surplus nor a shortage.