M1 is a definition of money largely confined to which function(s) of money?
A) unit of account
B) store of value
C) medium of exchange
D) B and C.
C
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The equation of exchange states that the money value of GDP must be equal to the product of the money stock times its velocity
a. True b. False Indicate whether the statement is true or false
The Great Depression was an era marked by
a. steady growth in GDP and a decline in the rate of unemployment. b. a prolonged period of high unemployment and output substantially below its potential. c. a large decline in the stock market followed by a steady recovery. d. a failure of expansionary monetary policy to stimulate output and employment.
Who pays a corporate income tax?
a. owners of the corporation b. customers of the corporation c. workers of the corporation d. All of the above are correct.
Which of the following is an example of a trade restriction?
A) quotas B) tariffs C) dumping D) a and b E) a, b, and c