Which of the following is included in the M1 money supply?
A) Bonds
B) Credit cards
C) Gold
D) Deposits in checking accounts
E) All of the above.
D
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When young students are hungry, they can be disruptive and inattentive in class. Thus, providing lunch to students has external benefits. The figure above represents the market for school lunches before and after government vouchers are issued
a. What is the unregulated private market equilibrium? b. What is the efficient quantity of lunches? c. What is the amount of the voucher necessary to move the economy to the efficient number of lunches? d. When vouchers are used, what is the dollar price of the lunch that suppliers receive and what is the dollar price that consumers pay when the voucher is used?
Researcher Terry Anderson claims that with respect to the supply of water, trading it would be
a. wrong and counter-productive. b. essentially impossible due to lack of technologies to move the water. c. highly productive and bring cooperation among the traders. d. a problem, since monopolists would come to own too much.
Which of the following most clearly indicates that fiscal policy is becoming more expansionary?
a. An increase in the budget deficit relative to GDP b. A reduction in the budget deficit relative to GDP c. An increase in the budget surplus relative to GDP d. An increase in the nominal (dollar) size of the budget deficit
A profit-maximizing firm hires labor per week up to the point at which
A. the marginal revenue product of labor equals the wage. B. the marginal revenue product of labor is equal to zero. C. the marginal revenue product of labor is maximized. D. the difference between the marginal revenue product and the wage is maximized.