Although not included in the M1 definition of money, ______ are part of the M2 definition of currency.
a. traveler’s checks
b. coins
c. checkable deposits
d. money market mutual fund shares
d. money market mutual fund shares
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According to marginal analysis, you should spend more time studying economics if the extra benefit from an additional hour of study
a. is positive. b. outweighs the extra cost. c. exceeds the benefits of the previous hour of study. d. will raise your exam score.
A good will have a more elastic demand, the
a. greater the availability of close substitutes. b. more broad the definition of the market. c. shorter the period of time. d. more it is regarded as a necessity.
If inflation is a threat, then the Fed will conduct monetary policy aimed at
A) increasing the interest rate which then will shift aggregate demand to the right. B) decreasing the interest rate which then will shift aggregate demand to the right. C) decreasing the interest rate which then will shift aggregate demand to the left. D) increasing the interest rate which then will shift aggregate demand to theleft.
In reference to industrial policy, networks of interdependent firms, universities, and businesses that focus on production of a specific type of good are called:
A. vertical industries. B. integrated industries. C. bundles. D. clusters.