Let's get our money supplies in their correct categories: M2 is equal to M1 plus
a. savings deposits, money market deposit accounts, small time deposits, and Eurodollars
b. savings deposits, money market deposit accounts, money market mutual funds, and Eurodollars
c. small time deposits, money market deposit accounts, money market mutual funds, and Eurodollars
d. savings deposits, small time deposits, money market deposit accounts, money market mutual funds, and repurchase agreements
e. money market mutual funds, money market deposit accounts, savings deposits, large time deposits, and repurchase agreements
D
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If labor and capital are substitutes in production, then an increase in the amount of capital will
a. reduce the total product associated with each quantity of labor. b. decrease the marginal product of labor. c. increase the marginal product of labor. d. have no effect on labor productivity.
If the economy is growing 5% a year and GDP is $1000 billion, the additional revenues available to meet interest payments on the government deficit would be, ceteris paribus,
A) 50. B) 500. C) It depends upon the amount of new debt issued. D) There would be no additional revenues.
When average total cost is above marginal cost, average total cost is rising
a. True b. False Indicate whether the statement is true or false
A deadweight loss occurs ________ in a market.
A. when there is efficient production B. only when there is overproduction C. when there is underproduction or overproduction D. only when there is underproduction