In the United States, the money supply (M1) consists of
a. paper currency, coins and traveler's checks.
b. government bonds, currency, demand deposits, other checkable deposits, and traveler's checks.
c. paper currency, coins, demand deposits, and savings deposits.
d. coins, paper currency, demand deposits, other checkable deposits, and traveler's checks.
D
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Refer to Table 19-1. Suppose that a simple economy produces only four goods and services: sweatshirts, dental examinations, coffee drinks, and coffee beans. Assume all of the coffee beans are used in the production of the coffee drinks. Using the information in the above table, nominal GDP for this simple economy equals
A) 3,090 units. B) $7,250. C) $8,750. D) $9,750.
Product differentiation refers to:
A. the process of creating a standardized product with a lower-cost method than the competitors' method. B. firms who offer similar products to their competitors' products, but that are more attractive in some way. C. consumers who sort and group goods based on similar characteristics. D. the process of informing the public of differences in products as a result of error.
Which of the following protects people from incompetent or unscrupulous producers?
A. the Federal Register B. social regulation C. antitrust policy D. economic regulation
__________ people are often overly affected by outside forces, such as changes in weather or the bad attitudes of coworkers
a. Synergistic b. Reactive c. Positive d. Pro-active