All of the following are nontransaction deposits EXCEPT
A) savings accounts.
B) small-denomination time deposits.
C) checkable deposits.
D) certificates of deposit.
C
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In Figure 1 below if the economy were at Y3 then we would expect there to be:
A. a reduction in inventories.
B. an increase in inventories.
C. no change in inventories.
D. an increase in consumption spending.
For which of the following workers would the income effect be more likely to outweigh the substitution effect of an increase in wage?
a. gardener b. teacher c. professional athlete d. plumber
For a given level of inflation, if a rise in the stock market makes consumers more willing to spend, known as the wealth effect, then the ________ shifts ________.
A. short-run aggregate supply line; downward B. aggregate demand curve; right C. aggregate demand curve; left D. short-run aggregate supply line; upward
Explain why the government is often more responsive to producer interests than to consumer interests when it comes to the imposition of tariffs and quotas