The designate M1 measure of money consists of
A) the most liquid types of money in the U.S. system.
B) small time deposits only.
C) credit cards and ATM cards.
D) gold and gold coins.
A
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Money serves as a medium of exchange when:
A. it is a basic measure of economic value. B. it is a means of holding wealth. C. it is used to purchase goods and services. D. there is direct trade of goods and services.
Imposing a minimum wage that is above the equilibrium wage rate results in
A) higher job search costs. B) lower unemployment. C) the labor market becoming more efficient. D) equilibrium in the labor market.
Are credit cards and debit cards money? What's the difference between credit and debit cards?
In an open economy, an increase in government spending will cause
A) a reduction in domestic output. B) a reduction in imports. C) a reduction in net exports. D) all of the above E) none of the above