M1 is defined as a measure of money including, in part,
A) checkable deposits and currency.
B) time deposits and currency.
C) currency and savings deposits.
D) time deposits and money market fund deposits.
E) the lines of credit on credit cards and currency.
A
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When a self-aware, present-biased individual invests in a commitment device that will bind him in the future, he will resent that commitment device when the future becomes the present.
Answer the following statement true (T) or false (F)
The above figures show the market for gasoline. Which figure shows the effect of a nation-wide strike by municipal bus drivers, which causes more people to drive their cars to work?
A) Figure A B) Figure B C) Figure C D) Figure D
The purpose of fiscal policy should be to
A. balance the budget to be fiscally responsible. B. balance aggregate supply and aggregate demand. C. keep taxes low to keep voters happy. D. minimize government spending to avoid wasting money.
Comparisons of GDP levels across countries are least accurate when:
A. prices differ across countries and nonmarket activities are a large part of total economic activity. B. purchasing power parity prevails. C. prices differ across countries. D. nonmarket activities are a small part of total economic activity.