A Certificate of Deposit would be counted in which measure of money?
A. M2
B. Hard money
C. M1
D. It would be counted in both M1 and M2
Answer: A
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Today, one U.S. dollar exchanges for 1.10 euros. The next morning the same dollar exchanges for 1.07 euros. We can conclude that the dollar has ________ and the euro has ________
A) depreciated; appreciated B) appreciated; appreciated C) appreciated; depreciated D) depreciated; neither appreciated nor depreciated E) depreciated; depreciated
The smallest quantity of output at which long-run average cost is at a minimum is a firm's ________
A) maximum efficient scale B) profit-maximizing output point C) minimum efficient scale D) efficient output point
The classical economists argued that saving is matched by an equal amount of investment because of
A) wage flexibility. B) price flexibility. C) money flexibility. D) interest rate flexibility. E) b and c
When quantity supplied is more than quantity demanded:
a. supply shock b. shortage c. excess supply d. disequilibrium e. search costs