Which of these meets the M2 definition of money, but not the M1 definition of money?
a. traveler’s checks
b. savings deposits
c. currency
d. demand deposits
b. savings deposits
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The Car Allowance Rebate System (CARS)
a. was launched as a stimulus program by the Reagan administration b. was introduced under the Consumer Assistance to Recycle and Save Act of 2009 c. is currently available to purchasers of plug-in hybrids d. was the first-ever Vehicle Accelerated Vehicles Retirement (VAVR) program
If a state requires all drivers to purchase auto insurance, insurance companies still face the problem of
A) sunk costs. B) excess demand for their insurance. C) correctly pricing their insurance. D) adverse selection.
Uncertainty about interest-rate movements and returns is called
A) market potential. B) interest-rate irregularities. C) interest-rate risk. D) financial creativity.
If the game is played for 10 years, the Nash equilibrium will be
a. Low, Low b. Low, High c. High, Low d. High, High