M2 money includes all the following except
a. travelers' checks
b. savings accounts
c. large denomination time deposits
d. money market deposit accounts
e. money market mutual accounts
C
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Which of the following will reduce consumer expenditures?
A) a decrease in expected future income B) a decrease in interest rates C) a decrease in the price level D) a general increase in housing prices
In an open economy with global capital markets and mobile capital:
A) a country has control over both its domestic money supply and exchange rate. B) a country has control of either its domestic money supply or exchange, but not both. C) a country only has control over its domestic money supply. D) a country only has control over its exchange rate.
Which of the following is an example of wealth?
A. A yearly salary of $40,000 B. A mutual fund balance of $1,000 C. Rental payments of $3,000 per month D. Stock dividends of $500 per quarter
If a homeowner sells a kitchen table and chairs that she no longer wants to use and does not report the income earned from the sale to the Internal Revenue Service, the value of GDP is
A. understated because this transaction took place in the underground economy. B. overstated because the sale of the furniture is counted twice in GDP calculations. C. unaffected by this transaction because the table and chairs were already counted in GDP as final goods when the homeowner bought them new. D. understated because this purchase was a nonmarket transaction.