The standard measure of the money stock, M1, refers to
a. checking account balances, travelers' checks, and cash in the hands of the public
b. cash in the hands of the public, demand deposits, and small time deposits
c. cash in the hands of the public, savings-type account balances, and travelers' checks
d. savings-type account balances, small time deposits, and checking account deposits
e. the sum of the cash in the hands of the public
A
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The aggregate demand curve shows the relationship between short-run equilibrium output and the:
A. inflation rate. B. unemployment rate. C. real interest rate. D. nominal interest rate.
Margarine and butter can both be used as a spread on toast. This means that they are:
a. independent goods. b. complementary goods. c. substitute goods. d. Giffen goods. e. inferior goods.
Refer to the above data. The expenditures approach to GDP calculation can be done by adding:
a. 1 through 7 b. 8 through 13 c. 2 through 7 d. 8 through 11
Portfolio diversification is ineffective when
A) assets in the portfolio have precisely the same pattern of returns. B) assets in the portfolio have negative correlations. C) assets in the portfolio are uncorrelated. D) Portfolio diversification is ineffective in each of the above scenarios.