What are the four components of M1?
What will be an ideal response?
currency held by the public; demand deposits; other checkable deposits; traveler's checks
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Compared to earlier times, the period of the 1950s to the early 1960s was one characterized by
(a) temporary deficit spending of the government. (b) permanent deficit spending of the government. (c) temporary surplus spending of the government. (d) permanent surplus spending of the government.
Using the expenditure approach, GDP equals:
a. C + I + G + (X ? M). b. C + I + G + (X + M). c. C + I ? G + (X ? M). d. C + I + G ? (X ? M).
Under international trade we export those goods for which we have a relatively low
A. materials cost. B. wage cost. C. accounting cost. D. opportunity cost.
For some products, quality is virtually impossible to determine prior to purchase. If sellers of such commodities are rational, they will cheat or engage in unethical behavior only when:
A. production exhibits positive externalities. B. laws allow unethical behavior. C. the expected gains are greater than the expected costs. D. the expected gains are equal to the expected costs.