Which of the following is NOT included in the M1 money supply?
A. checkable and debitable accounts
B. currency
C. passbook savings accounts
D. traveler's checks
Answer: C
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From a microeconomic perspective, the relatively low U.S. household saving rate contributes to an increasing inequality of wealth resulting from:
A. the higher saving rate of low-income households. B. the higher national saving rate. C. the lower saving rate of low-income households. D. the lower national saving rate.
Larry consumes at a point on his budget line where his marginal rate of substitution is less than the magnitude of the slope of his budget line. As Larry moves toward his consumer equilibrium point, he will move to a
A) lower budget line. B) higher budget line. C) lower indifference curve. D) higher indifference curve.
Which of the following is not a reason to restrict trade?
A. Concerns about dumping. B. Concern about high prices for consumers. C. Protection of infant industries. D. Preservation of national security.
The rational outcome of a low-price guarantee policy is that:
A. both firms will sell at the low price. B. one firm will sell at a low price and the competitor will sell at a high price. C. both firms will sell at the high price. D. consumers will be better off.