Which of the following makes up the largest share of M2?
A) M1
B) savings deposits
C) small time deposits
D) money market mutual fund shares
B
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The amount by which aggregate expenditures exceed those associated with the full-employment level of domestic output can best be described as
A. the multiplier. B. a recessionary expenditure gap. C. the average propensity to save. D. an inflationary expenditure gap.
If a firm has excess capacity, it means
A) that the firm's long-run average cost of producing a given quantity exceeds its short-run cost of producing that same quantity. B) that the firm's quantity supplied exceeds its quantity demanded. C) that the firm expends too much of its resources on advertising its product without seeing an appreciable increase in sales. D) that the firm is not producing its minimum efficient scale of output.
When a firm is earning economic profit, this indicates the firm is
a. increasing the value of the resources that it is using. b. reducing the value of the resources that it is using. c. supplying the market with a low quality product. d. creating less value for consumers than another firm that is currently earning losses.
The essential logic behind international trade is not different from that underlying trade among different states. Why, then, do we study international trade as a special subject?
What will be an ideal response?