The designate M1 measure of money consists of
A. credit cards and ATM cards.
B. gold and gold coins.
C. small time deposits only.
D. the most liquid types of money in the U.S. system.
Answer: D
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The short-run Phillips curve is a curve that shows the relationship, other things being constant, between ________ and ________
A) the inflation rate; the nominal interest rate B) the inflation rate; the expected inflation rate C) the unemployment rate; real GDP D) potential GDP; the natural unemployment rate E) the inflation rate; the unemployment rate
If net taxes decrease by $100 billion and the result is an increase in GDP of $300 billion, what is the marginal propensity to consume?
a. 0.75 b. 3.0 c. 0.66 d. 0.50 e. 0.33
Stabilization policy may be necessary to slow down the speed of the adjustment process
a. True b. False Indicate whether the statement is true or false
Which of the following would not be a government transfer expenditure?
A. contribution of employers to support the Social Security program B. social security payments to the aged C. unemployment compensation benefits D. payments to the widows of war veterans