M1 is comprised of currency held outside banks + traveler's checks + __________
A) credit cards
B) savings deposits
C) gold
D) checkable deposits
E) money market mutual funds
D
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Why does unemployment not go to zero during booms?
What will be an ideal response?
Jordan recently quit her job as a marketing consultant in Washington, D.C. and is looking for a better-paying job with an advertising agency in New York. Jordan is considered to be
A) cyclically unemployed. B) structurally unemployed. C) not in the labor force. D) frictionally unemployed. E) a discouraged worker.
Applying neoclassical theory to the housing market, ________ cause a decrease in the desired stock of houses
A) higher expected household incomes B) higher rates of household formation C) increases in the expected relative price of housing D) tighter constraints on mortgage financing
A temporary increase in income today leads to
A) a small increase in current consumption. B) a large increase in current consumption. C) a small decrease in future consumption. D) a large decrease in future consumption.