M1
A. includes credit cards.
B. includes small time deposits.
C. is the sum of currency plus travelers checks.
D. is the narrowest definition of the money supply.
Answer: D
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The production possibilities frontier shifts as
A) tastes and preferences change. B) the money supply grows or shrinks. C) technology changes. D) the unemployment rate changes.
Which of the following is an example of an implicit cost that a firm might incur?
A) the revenue a firm generates in using its resources B) the rental value of the office space the company owns and uses for itself C) the out-of-pocket expense to hire resources D) taxes owed to the state and Federal governments
The four main components of the current account are:
a. services, financial assets, unilateral transfers, and debits. b. net exports, unilateral transfers, services, and domestic bank deposits abroad. c. government asset holdings abroad, foreign official assets, private bank deposits abroad, and merchandise. d. unilateral transfers, merchandise, services, and investment income. e. capital exports, services, merchandise, and royalties.
A price ceiling set above the equilibrium price causes a surplus in the market
a. True b. False Indicate whether the statement is true or false