The money aggregate M1 consists of
A) currency and savings accounts.
B) currency and checking deposits, including traveler's checks.
C) only checking deposits and time deposits.
D) checking accounts, savings accounts and Treasury bills.
B
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The fact that output gaps will not last indefinitely, but will be closed by rising or falling inflation is the economy's:
A. income-expenditure multiplier. B. self-correcting property. C. short-run equilibrium property. D. long-run equilibrium property.
A surplus occurs in a market when:
A) demand exceeds supply. B) price is lower than the equilibrium price. C) price is higher than the equilibrium price. D) the marginal cost of production is negligible.
Which of the following is not generally considered to be a major cure for insolvency?
a. Equity infusions. b. Expansionary monetary policies. c. Financial restructuring. d. New management strategies. e. Asset liquidations.
An optimizing consumer will select a consumption bundle in which
a. income is maximized, and prices are minimized. b. utility is maximized, and prices are minimized. c. utility is maximized, subject to budget constraints. d. utility is maximized, and indifference curves are linear.