The measure of the money stock called M1 includes
a. wealth held by people in their checking accounts.
b. wealth held by people in their savings accounts.
c. wealth held by people in money market mutual funds.
d. everything that is included in M2 plus some additional items.
a
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Which of the following is NOT a reason that real GDP is a poor measure of a nation's economic welfare?
A) Real GDP omits measures of political freedom. B) Real GDP does not take into account the value of people's leisure time. C) Real GDP does not include the underground economy. D) Real GDP overvalues household production.
When demand for goods and services is high, firms are more likely to hire more workers
a. True b. False Indicate whether the statement is true or false
Which of the following is the best example of a fixed cost for a business?
a. the insurance payment for the protection of a building owned by the firm b. shipping charges for the delivery of products c. managerial salaries paid d. the total of medical insurance premiums on the firm's employees
Which of the following parts of Social Security was not part of the original program?
A. Benefits to widows B. Benefits to orphans C. Medicare D. Retirement benefits