What types of money are considered in the measurement of M1?
a. currency
b. coins
c. checkable deposit
d. all of the above are considered in the calculation of M1
d
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According to Figure 6.1, the period from 1996 to 2011 is particularly remarkable for the slow growth of ________
A) productivity B) labor input C) output D) capital input
Suppose the market demand for milk is Qd = 150 - 5P. Additionally, suppose that a dairy's variable costs are VC = 2Q2 (where Q is the number of gallons of milk produced each day), its marginal cost is MC = 4Q and there is an avoidable fixed cost of $50 per day. In the long run there is free entry into the market. How many active firms are in the market?
A. 50 B. 5 C. 10 D. 20
A type of public policy set in response to rising prices of a basic necessity, such as food, might be:
A. to make it illegal to charge higher prices for those goods. B. to hire more producers of those goods. C. to subsidize the price of those goods. D. All of these are ways government can try to address rising prices of a basic necessity.
Game theory can be used to investigate
A. why cartels break down. B. why some firms maintain excess productive capacity. C. how oligopolists set prices. D. All of the responses are correct.