Which one of the following is the largest component of the money supply (M1) in the United States?
A. checkable deposits
B. gold certificates
C. credit cards and traveler's checks
D. Federal Reserve notes
Answer: A
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Use the aggregate expenditures model and the following values to answer the next question.AMPCIGT$9000.9$2,500$2,500$1,000Determine equilibrium real GDP for this economy.
A. $69,000 B. $59,000 C. $50,000 D. $60,000
If the demand curve for wedding cakes shifts to the right, then the value of the marginal product of labor for bakers will
a. rise. b. fall. c. remain unchanged. d. rise or fall; either is possible.
To be able to engage in profit-maximizing price searching, a monopoly firm must be able to
A) prevent the entry of other firms into the market for its product. B) induce the entry of other firms into the market for its product. C) avoid earning negative economic profits in the short run. D) always earn zero economic profits.
People tend to remain in those occupations that require continuous time and financial commitments to remain productive
a. True b. False Indicate whether the statement is true or false