Which definition(s) of the money supply include(s) only items which are directly and immediately usable as a medium of exchange?
A. M1
B. M2
C. Neither M1 nor M2
D. M1 and M2
A. M1
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Suppose the economy is producing at the natural rate of output. An increase in consumer and business confidence will cause ________ in real GDP in the long run and ________ in inflation in the long run, everything else held constant
A) an increase; an increase B) a decrease; a decrease C) no change; an increase D) no change; a decrease
Which of the following is not part of fiscal policy?
a) Income tax b) National insurance c) VAT d) Interest rates
In the United States, the highest percentage of health care is paid for by:
a. individuals. b. charities. c. private insurance. d. the government.
Buyers and sellers acting in their own best interest generate outcomes that are in society's best interest when:
A. there are informed buyers and sellers. B. there is perfect competition. C. there are no external costs. D. All of these.