M1 money includes all but which of the following?
a. Checkable deposits
b. Savings accounts
c. Paper money
d. Coins
Answer: b. Savings accounts
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The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 created an Office of Credit Ratings at the SEC with its own staff and the authority to fine credit-rating agencies and to deregister an agency if it produces bad ratings
This is an example of which remedy of conflicts of interest? A) regulate for transparency B) supervisory oversight C) leave it to the market D) socialization of information production
In the competitive price-taker model, individual firms exert no effect on the market price. Therefore, the firm's marginal revenue curve is
a. indeterminate. b. an upward-sloping curve. c. a downward-sloping curve. d. the same as the firm's demand curve.
Annie is an excellent baker and Sam has a plentiful farm. If Sam trades eggs and butter to Annie for some of Annie's bread and pastries,
a. only Sam is made better off by trade. b. only Annie is made better off by trade. c. both Sam and Annie are made better off by trade. d. neither Sam nor Annie are made better off by trade.
Assume an economy that makes only one product and that year 3 is the base year. Output and price data for a five-year period are as follows. Answer the question on the basis of these data. year units of output price per unit 1 3 3 2 4 4 3 6 5 4 7 7 5 8 8 Refer to the above data. In determining real GDP, the nominal GDP for:
a) each year must be multiplied by the relevant price index. b) years 1 and 2 must be inflated. c) years 4 and 5 must be inflated. d) years 1 and 2 must be deflated.