In the United States, the money supply (M1) consists of:
A. paper currency and coins.
B. coins, paper currency and checkable deposits.
C. paper currency, coins, checkable deposits, and savings deposits.
D. government bonds, currency, and checkable deposits.
Answer: B
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A) 5 B) 10 C) 15 D) 20
If transaction costs are high, then it is more likely a firm's demand curve is downward sloping
Indicate whether the statement is true or false
Personal income taxes:
a. make recessions and inflationary episodes more severe. b. make recessions and inflationary episodes less severe. c. make recessions more severe and inflationary episodes less severe. d. make recessions less severe and inflationary episodes more severe. e. have no effect on the severity of recessions and inflationary episodes.
Average total cost for an information product would
A) first decrease and then increase as quantity increases. B) increase constantly as quantity increases. C) decrease constantly as quantity increases. D) remain constant as quantity increases.