Which of the following is NOT part of M1 but is included in M2?
A. cash
B. currency
C. traveler's checks
D. small-denomination certificates of deposits
Answer: D
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Which type of tariff is forbidden in the United States on Constitutional grounds?
A) import tariff B) export tariff C) specific tariff D) prohibitive tariff E) import quota
Since foreign credit dries up in crises when it is most needed, developing countries can protect themselves from default by
A) cutting off imports of goods. B) allowing the exchange rate to float. C) using equity finance only. D) accumulating high levels of international reserves. E) avoiding the international capital market.
If Camila's income rises by 20 percent, and, as a result, she purchases 40 percent more dresses, her income elasticity for dresses is
a. 0.5. b. 1.0. c. 2.0. d. Not enough information is given to answer this question.
The marginal propensity to consume (MPC) in exhibit 10-2 equals
What will be an ideal response?