The largest component of M2 is
A) savings deposits.
B) currency.
C) money market mutual funds.
D) travelers checks.
A
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If higher prices cause buyers to shop at discount stores, the CPI has
A) a new goods bias. B) a quality change bias. C) a commodity substitution bias. D) an outlet substitution bias. E) a discounted bias.
If Sam decides to work, his
A) reservation wage is greater than his wage rate. B) reservation wage is less than his wage rate. C) value of marginal product is greater than his wage rate. D) value of marginal product equals his wage rate.
The Moonbeam Corporation produces most of the total output in its industry. The firm unilaterally lowers its price to less than average variable cost until a competitor leaves the market. This example highlights ______.
a. collusive oligopoly b. perfect competition c. predatory pricing d. price discrimination
Which statement is true?
A. Right-to-work laws promote the formation of union shops. B. A monopsony is the only buyer of a product for which there are no close substitutes. C. Under a union shop, an employer may hire only union workers. D. Monopsonies are illegal under the Taft-Hartley Act.