Which of the following is considered part of M2?
a. Savings deposits.
b. Money market mutual fund shares.
c. Small time deposits of less than $100,000.
d. All of these.
d
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The figure illustrates Elijah's preferences. He is currently at point A. The price of pizza decreases. The move from point A to point ________ is the substitution effect and the move from point ________ to point ________ is the income effect
A) B; B; C B) E; E; C C) D; D; B D) C; C; B
A restriction of imports that is accomplished by a quota normally
A. can be accomplished also by a tariff. B. cannot be replicated exactly by imposing a tariff. C. can be accomplished also by an export subsidy. D. can be accomplished also by negotiations within GATT.
The less elastic is the demand for a firm's product, the greater is that firm's market power
Indicate whether the statement is true or false
Economists calculate average variable cost by ______ over a set period of time.
a. dividing marginal cost by output b. dividing variable cost by output c. multiplying variable cost by output d. subtracting variable cost from total cost