Which of the following is NOT part of M1?
A. money market deposit accounts
B. coin and currency
C. traveler's checks
D. checking deposits
Answer: A
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To achieve long-run equilibrium in an economy with a recessionary gap, without the use of stabilization policy, the inflation rate must:
A. not change. B. increase. C. decrease. D. either increase or decrease depending on the relative shifts of AD and AS.
Given a price elasticity of demand of -0.33, a decrease in price will
A) reduce total revenue. B) increase total revenue. C) leave total revenue unchanged. D) decrease quantity.
Inflation is an increase in:
a. prices of all products in the economy. b. homes, autos and basic resources. c. the general price level of products. d. none of these.
Which of the following term refers to the share of an activity’s marginal cost that is paid for by the persons who carry out the activity?
A. Beneficial cost B. Incidental cost C. Marginal private cost D. Marginal social cost