M2 does not include
A. passbook savings accounts.
B. small-denomination time deposits.
C. M1.
D. Treasury bonds.
Answer: D
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The price of a firm's product is $8 and the firm faces a constant marginal cost of $5 that is equal to its (constant) average total cost. If the firm does not sell a unit of its product on the day it was produced, it is sold in a secondary market for a price of $2. If the firm does not sell a unit of its product on the day it was produced, there is a ________ of ________ per unit not sold.
A) loss; $3 B) profit; $3 C) profit; $5 D) loss; $2
Raising the required reserve ratio __________ the simple deposit multiplier which will __________ the economy's money supply
A) raises; increase B) raises; decrease C) lowers; increase D) lowers; decrease
The primary reason unionization in the United States has been declining is the shift of the U.S. labor force into service industries and out of manufacturing.
Answer the following statement true (T) or false (F)
The demand for a product produced in a perfectly competitive market permanently increases. In the short run, the price
A) rises and each firm produces less output. B) rises and each firm produces more output. C) does not change as new firms enter the industry. D) does not change because each firm produces more output.