What is included in MB that is not included in either M1 or M2?
A. currency
B. reserve deposits
C. savings accounts
D. checking accounts
Answer: B. reserve deposits
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GDP is measured in terms of market value because:
a. Actually, GDP is not measured as a market value. GNP measures market values. b. Otherwise, it would be impossible to combine all the heterogeneous goods and services consumed in a nation. c. Otherwise, it would be impossible to combine all the heterogeneous goods and services produced in a nation. d. Otherwise, it would be impossible to combine domestically produced goods and services with foreign goods and services consumed by the public. e. Otherwise, it would be impossible to separate the domestically produced goods and services from foreign goods and services consumed by the public.
The number of people willing to buy tickets to the Super Bowl is invariably greater than the number of tickets (and seats) available. This is evidence that the price of the tickets is
What will be an ideal response?
In which section of the United States are "right-to-work" laws most prominent?
A. The Northeast B. The West coast C. The South D. The Midwest
In the above figure, what happens to the firm's optimal level of output if the price it receives for its product increases from P2 to P3?
A. Output decreases. B. Output increases. C. Output stays the same. D. There is not enough information provided to know what happens to output.