Which of the following is not included in M2?
A. All of the items in M1.
B. All of the items in M2.
C. Treasury bills.
D. Time deposits greater than $100,000.
Answer: C
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Natural unemployment equals the sum of
A) cyclical and frictional unemployment. B) cyclical, business, and structural unemployment. C) frictional and structural unemployment. D) business and cyclical unemployment. E) cyclical and structural unemployment.
The term contagion refers to
A) a government's complete control over it's banking system. B) a drop in interest rates across industrialized countries. C) the vulnerability of healthy economies to crises generated by events elsewhere. D) a directed attack on one market by a foreign market. E) a side effect of international trade.
Michigan has an abundant supply of fresh water. However, an economist would consider it a scarce resource because
a. water is necessary for humans' physical survival b. pollution will eventually destroy all life in the Great Lakes c. water is limited relative to people's unlimited wants d. water commands a very high price e. nature can destroy water as well as create it
Which of the following examples shows product differentiation?
a. When Carrie buys bananas, she doesn’t care what company produced them. b. An automotive oil provides that same benefits for a car as other brands. c. A grocery clerk says his store’s produce is at least as good a nearby supermarket. d. An ad emphasizes how a laundry detergent cuts grease better than other brands.