Small-denomination time deposits are
A. the same as transaction deposits.
B. considered part of near money.
C. included in the definition of both M1 and M2.
D. included in the definition of M1, but not in M2.
Answer: B
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The market price for a final good reflects
A) the objective value of the good. B) the values added by earlier stages of production. C) the seller's profit. D) the buyer's loss. E) both C and D.
If the equilibrium exchange rate for the dollar is 110 yen per dollar and the current exchange rate is 120 yen per dollar, then the
A) supply curve of U.S. dollars shifts rightward. B) dollar will depreciate. C) dollar will appreciate. D) demand curve for U.S. dollars shifts rightward.
To eliminate the inefficiency resulting from an external cost of production, the government can impose a tax on producers that is equal to the
A) MSB. B) MC. C) marginal external cost. D) MSC.
Suppose that X and Y are substitute goods. If the price of good X increases, we can expect
a. the demand for good X to shift to the left b. an upward movement along the demand curve for good Y c. the demand curve for good Y to shift to the right d. a downward movement along the demand curve for good Y e. the demand curve for good Y to shift to the left