M1
A) is the sum of currency plus traveler's checks. B) is the narrowest definition of the money supply.
C) includes credit cards. D) includes small time deposits.
B
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Which of the following events could result in the consumption function shifting from CF0 to CF2?
A) an increase in disposable income B) an increase in expected future income C) a decrease in wealth D) a decrease in the real interest rate E) a decrease in disposable income The figure above shows two aggregate expenditure lines.
When countries try to ban child labor,
A) most children start to attend school. B) family poverty decreases. C) child labor often goes underground, with children working in the informal economy, family enterprises and remote areas. D) GDP increases.
Why does a perfectly competitive market require many participants as both buyers and sellers?
(A) So that both buyer and seller have the same information. (B) In order to maintain quality over the goods. (C) So that no individual can control the price. (D) Because the merchandise must be uniform.
Why do firms engage in the activity of production?
A. to acquire profits B. to help society advance technologically C. to develop a supply schedule D. to participate in the circular flow