Savings deposits and time deposits are not included in M1 because these are not held by the nonbanking public
a. True
b. False
Indicate whether the statement is true or false
False
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For most of World War II, the United States economy temporarily operated ____________ the production possibilities frontier.
Fill in the blank(s) with the appropriate word(s).
When a country takes a unilateral approach to free trade, it
a. removes trade restrictions on its own. b. reduces its trade restrictions while other countries do the same. c. does not remove trade restrictions no matter what other countries do. d. is willing to trade with multiple countries at once.
Susie knows that too many sugary treats, while delicious when eaten, have long-term adverse effects on weight and health. Based on this information, a behavioral economist would expect Susie to:
A. carefully weigh the short-term benefits against the long-term costs and make a rational decision about how many treats to eat. B. eat more sugary treats than is optimal, as she likely gives more weight to present events and outcomes than to ones in the future. C. give away most of her sugary treats in an effort to resist temptation. D. compute the caloric intake and calculate how many hours of exercise would be needed to burn off the calories from each treat.
Which of the following would decrease the cyclically adjusted deficit?
A) an increase in income B) a decrease in income C) an increase in the primary deficit D) a decrease in the primary deficit E) none of the above