Credit card balances are
A) part of M1. B) part of M2.
C) part of M3. D) not part of the money supply.
D
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The above figure shows the marginal benefits and marginal costs of a college education. The efficient number of students is
A) 0. B) 10 million. C) 15 million. D) 25 million.
To economists, feelings such as peace, serenity, religious devotion, and self-esteem are captured in the concept known as _____
a. rational self-interest b. utility c. profit d. total revenue e. surplus
Purchasing power parity exists when domestic currency
A. buys as many goods abroad as at home. B. buys more goods at home than abroad. C. is not convertible to a foreign currency. D. maintains a fixed exchange rate with a foreign currency.
The price system has
A) prices fixed by the government. B) prices fixed by the seller. C) voluntary exchange. D) prices fixed by the producer.