M1 refers to:
A. Federal Reserve Notes and gold certificates.
B. currency held by the public plus checking account balances.
C. the broadest of the money-supply definitions.
D. bank loans.
Answer: B
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Without any change in the demand for labor, how are the following events likely to change the equilibrium wage and employment level in a dairy farm?
a) An increase in the population of the region where the dairy farm is located b) The establishment of a cotton mill that pays higher hourly wages, near the dairy farm c) The shutdown of a rice farm located near the dairy farm
Which of the following is true? a. As long as human wants exceed available resources, scarcity will exist
b. Scarcity ultimately leads to competition for the available goods and services. c. Scarcity affects everyone to the same degree. d. Both a. and b. are true.
Managed floats are only effective in the long run
a. True b. False
When the relationship shown in the Phillips curve is put into the aggregate demand curve, the horizontal portion of the aggregate demand curve disappears
Indicate whether the statement is true or false