Which of the following items are included in money supply M2 but not M1?
A. Federal Reserve notes
B. savings deposits
C. coins
D. checkable deposits
Answer: B
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A payoff matrix summarizes all of the following except
A) who the players are. B) the reason each player is playing the game. C) the actions available to each player. D) the payoffs available to each player.
Entrepreneurs do all of the following EXCEPT
A) organize labor, land, and capital. B) come up with new ideas about what and how to produce. C) bear risk from business decisions. D) own all the other resources used in the production process.
Those who criticize individuals who choose to drive a relatively inefficient sport utility vehicle (SUV) might mistakenly
A) assume everyone faces the same relative prices. B) assume everyone has the same preference set. C) assume everyone has the same budget constraint. D) All of the above.
If the domestic consumers of a good benefit from free trade, it suggests that the country:
A. is a net exporter of that good. B. is not able to produce that good. C. is a net importer of that good. D. has a comparative advantage in that good.