Which of the following is NOT included in the MZM definition of money?
A) currency.
B) money market funds.
C) travelers checks.
D) small-denomination time deposits.
D
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Based on the figure below. Starting from long-run equilibrium at point C, a tax increase that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies.
A. D; C B. D; B C. A; B D. B; C
Buyers who were originally willing to buy 800 units of a good at $4 per unit are now willing to buy 1200 units at $4 per unit. That change would be described as: a. an increase in demand
b. a decrease in demand. c. an increase in quantity demanded. d. a decrease in quantity demanded.
The Keynesian-cross model is a complete macroeconomic model
a. True b. False Indicate whether the statement is true or false
Whenever firms can freely enter and exit a market,
a. firms can never earn a profit. b. prices will be the same for all firms in the market. c. products will be identical for all firms in the market. d. profits and losses play an important role in determining the size of the industry.