Which of the following is NOT a component of M1?
A) savings deposits
B) currency
C) demand deposits
D) traveler's checks
E) Both answers C and D are correct.
A
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Because oil price increases reduce the consumption of oil, this discourages the development of oil substitutes
Indicate whether the statement is true or false
Public policies designed to increase labor productivity do not include
a. subsidies for higher education. b. tax breaks for job retraining. c. tax breaks on corporate dividends. d. public education.
A normal good is defined by economists to be a good
a. with a negatively-sloped demand curve. b. that is purchased by at least 75 percent of the population. c. that is bought by consumers with normal tastes. d. whose demand increases when incomes increase. e. whose demand decreases when incomes increase.
Give an example of two products that are substitutes. Explain why they are substitutes.
What will be an ideal response?