Which of the following is not counted in M1?
A) checking account balances
B) credit card balances
C) coins in circulation
D) currency in circulation
E) traveler's check balances
Answer: B
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The Clayton Act of 1914 prohibits ________ if it substantially lessens competition or creates a monopoly
A) people from serving on the board of directors of competing firms B) contracts that force other goods to be bought from the same firm C) both of the above D) neither of the above
Refer to Table 2-18. What is Mickey's opportunity cost of making a hat?
A) 1/10 of an umbrella B) 1/5 of an umbrella C) 5 umbrellas D) 10 umbrellas
Macroeconomic issues include all of the following EXCEPT:
A. recessions and expansions. B. productivity. C. energy reserves. D. economic growth.
Real wealth falls, interest rates rise, and the dollar appreciates as the price level
a) remains constant. b) falls slightly. c) rises. d) falls substantially.