In December 2009, currency outside of banks was $400 billion, traveler's checks were $5 billion; checkable deposits owned by individuals and businesses were $600 billion, saving deposits were $2,000 billion, time deposits were $1,500 billion; and
money market funds were $1,200 billion. What was the M2 in December 2009? A) M2 = $5,705 billion
B) M2 = $3,705 billion
C) M2 = $1,005 billion
D) M2 = $2,505 billion
E) M2 = $5,700 billion
A
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In the above figure, the lowest price for which the firm will sell its second ton of wheat is
A) $25. B) $50. C) $75. D) $100.
If the substitution effect of a wage increase dominates the income effect, the labor supply curve has a positive slope
Indicate whether the statement is true or false
________ occurs when market participants observe returns on a security that are larger than what is justified by the characteristics of that security and take action to quickly eliminate the unexploited profit opportunity
A) Arbitrage B) Mediation C) Asset capitalization D) Market intercession
Monetarists have received this label because they emphasize the role of
a. money supply in determining aggregate supply. b. the money supply in determining nominal GDP. c. the Fed in making monetary policy. d. the money supply in determining interest rates and investment.