Use the list of items below to answer the question that follows.1.Money market mutual funds held by individuals 2.Savings deposits, including money market deposit accounts 3.Currency held by banks 4.Currency held by the public 5.Shares of corporate stock 6.Small time deposits 7.Checkable deposits 8.Large time deposits Refer to the above table. The M1 money supply is composed of items:
A. 3, 4 and 7.
B. 2 and 7.
C. 3 and 4.
D. 4 and 7.
Answer: D
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A cost-saving innovation in a perfectly competitive industry will lead to:
A. economic profits for a few firms for a short time. B. economic profits for new firms. C. entry by new firms. D. a leftward shift of the industry supply curve.
If a firm's output doubles when all inputs are doubled, production is said to occur under conditions of
A) increasing returns to scale. B) imperfect competition. C) intra-industry equilibrium. D) constant returns to scale E) decreasing returns to scale.
Assume that as the price of wheat falls from $10 to $8, the quantity demanded of wheat increases from 100 bushels to 150 bushels. This implies the price elasticity of demand for wheat is 0.5
a. True b. False Indicate whether the statement is true or false
Other things equal, the steeper the slope of the aggregate supply curve, the more effective will be the expansionary fiscal policy
a. True b. False Indicate whether the statement is true or false