Traveler's check are
A. part of M1 but not M2.
B. not part of M1 or M2.
C. part of M2 but not M1.
D. part of M1 and M2.
Answer: D
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A) purchases; decreases B) sales; decreases C) purchases; increases D) sales; increases
In Figure 5-1 above, if the budget line BB0, the natural real GDP is $5300, and actual real GDP is $5000, then the cyclical budget surplus or deficit is the
A) horizontal distance between A and F. B) vertical distance between F and D. C) vertical distance A and F. D) horizontal distance between B and D.
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