Which of the following is not a component of the M1 money supply?
A) Cash in circulation
B) Gold owned by the federal authorities
C) Deposits in checking accounts
D) Any issued traveler's checks
B
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Under the gold standard, a country experiencing a fall in its gold reserves was supposed to:
(a) Expand loans (b) Buy securities (c) Lower discount rates (d) Cut loans
Which of the following would likely be involved in a new bond offering?
A) a commercial bank B) an investment bank C) a broker D) a dealer
Variance is a measure of ________ and the higher the variance, ________
A) expected profit; the greater the profit B) risk; the greater the risk C) standard deviation; greater the standard deviation D) risk; the lower the risk
The difference between the utility of expected income and expected utility from income is
A) zero because income generates utility. B) positive because if utility from income is uncertain, it is worth less. C) negative because if income is uncertain, it is worth less. D) that expected utility from income is calculated by summing the utilities of possible incomes, weighted by their probability of occurring, and the utility of expected income is calculated by summing the possible incomes, weighted by their probability of occurring, and finding the utility of that figure. E) that the utility of expected income is calculated by summing the utilities of possible incomes, weighted by their probability of occurring, and the expected utility of income is calculated by summing the possible incomes, weighted by their probability of occurring, and finding the utility of that figure.