Money as defined by M1 includes
a. coins.
b. paper money.
c. checking deposits.
d. travelers' checks.
e. All of the above are correct.
e
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A recession is a slowdown in the rate of economic growth that
A) causes total income to fall even though total output has not declined. B) is unintended and therefore disappoints people's expectations. C) lowers the nominal level of gross domestic product. D) persists longer than one year. E) results in fewer people being employed.
Marginal revenue is defined as
A) the value of a firm's sales. B) the total revenue from the total amount the firm sells. C) the change in total revenue that results from a one-unit increase in the quantity sold. D) total revenue divided by the total quantity sold.
To maintain a fixed exchange rate, authorities
A) make laws stipulating the exchange rate. B) modify money supply. C) modify government expenses. D) modify taxes.
Technological progress shifts the long-run aggregate supply curve to the right
a. True b. False Indicate whether the statement is true or false