Use the list of items below to answer the question that follows.1.Money market mutual funds held by individuals 2.Savings deposits, including money market deposit accounts 3.Currency held by banks 4.Currency held by the public 5.Shares of corporate stock 6.Small time deposits 7.Checkable deposits 8.Large time deposits Refer to the above table. Which items are included in neither the M1 money supply nor the M2 money supply?
A. 1, 2, and 6
B. 1, 6, and 8
C. 3, 5, and 8
D. 3, 4, and 7
Answer: C
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Refer to the payoff matrix below. Which of the following is true for Camping R Us?
A) The Low strategy dominates the Middle strategy.
B) The Middle strategy dominates the Low strategy.
C) The Low strategy dominates the High strategy.
D) The High strategy dominates the Low strategy
The amount of deadweight loss that results from a tax of a given size is determined by
a. whether the tax is levied on buyers or sellers. b. the number of buyers in the market relative to the number of sellers. c. the price elasticities of demand and supply. d. the ratio of the tax per unit to the effective price received by sellers.
If the price of gasoline rises, buyers will probably
A. spend less on gasoline since the supply for gasoline is probably inelastic. B. spend less on gasoline since the demand for gasoline is probably elastic. C. spend more on gasoline since the supply for gasoline is probably elastic. D. spend more on gasoline since the demand for gasoline is probably inelastic.
?Exhibit 10A-1 Aggregate demand and supply model
?Beginning from short-run equilibrium at point E2 in Exhibit 10A-1, the economy's movement to a new position of long-run equilibrium would best be described as:
A. ?a movement along the AD2 curve with a shift in the SRAS1 curve. B. ?a movement along the SRAS2 curve with a shift in the AD2 curve. C. ? a shift in the LRAS curve to an intersection at E1. D. ?no shift of any kind.