Credit cards
a. represent the largest component of M1.
b. are not included in M1 but are included in M2.
c. are a form of money unique to the U.S.
d. are not considered money.
d
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Historically, the key role in assisting countries that ran into financial difficulties was played by
A) Europe. B) Japan. C) the IMF. D) the United Nations.
When two firms collude to maximize profit the total quantity produced by both firms taken together is determined at the quantity where ________
A) excess capacity is minimized B) industry marginal cost equals industry marginal revenue C) the price equals the industry's marginal cost D) excess capacity is as large as possible zero
Which of the following implies a decline in labor productivity in an economy?
a. A high rate of growth in capital formation b. An improvement in input quality c. A decrease in the production of goods and services d. An increase in the budget surplus in the economy e. A decrease in the prices of goods and services
A monopolist will operate at the quantity where: a. MR = MC and charge a price equal to marginal revenue
b. MR = MC and charge a price equal to average variable cost. c. MR = MC and charge a price corresponding to demand at that level. d. MR = MC and charge a price corresponding to average total cost at that level.