Which of the following is NOT included in M1?
A. savings accounts
B. deposits in checking accounts
C. deposits in checking accounts that pay interest
D. traveler's checks
Answer: A
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Refer to Figure 9.3. If the government establishes a price ceiling of $1.00, total consumer and producer surplus will be
A) $1.50. B) $300. C) $450. D) $500. E) $600.
If the price elasticity is supply coefficient is greater than one, then supply is:
a. elastic. b. inelastic. c. perfectly elastic. d. perfectly inelastic.
In an economy in which velocity is constant and the same level of real output is produced year after year, a slow increase in the money supply would result in a: a. constant price level
b. slowly increasing price level. c. rapidly increasing price level. d. slowly increasing real GDP. e. rapidly increasing real GDP.
In a market where firms are able to reduce their private costs by shifting costs onto others, which of the following will not happen? a. Inefficiencies will occur
b. Negative externalities will be observed. c. The market prices of products produced by firms will be too low relative to the social optimum. d. Output of the good being produced will be too low.