Along with currency not in banks and deposits in checking accounts, what is another component of the M1 measure of money?
A. credit cards
B. debit cards
C. traveler's checks
D. prepaid accounts
Answer: C
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Why did India's economic growth rate lag far behind growth rates in South Korea, Japan, and Taiwan between 1960 and 1999?
A) Indian households saved too much and spent too little. B) Indian government officials opened the nation up to free international trade. C) India engaged in central economic planning. D) India has too small of a population to generate a highly specialized division of labor.
Most recessions in the United States since World War II have begun with
A) a decline in residential construction. B) a rapid increase in the price level. C) a stock market crash. D) a substantial number of bank failures.
Adam Smith revolutionized the way we think about economic growth with his celebrated book called _________ that was published in _________
a. Progress and Poverty; 1890 b. Capital; 1867 c. The Theory of Business Cycles; 1936 d. The Wealth of Nations; 1776 e. The Theory of Economic Growth; 1914
Two firms, Kegareta Inc. and Sucio Enterprises, have access to five production processes, each one of which has a different cost and gives off a different amount of pollution. The daily costs of the processes and the corresponding number of tons of smoke emitted are shown in the accompanying table. ABCDE 4 tons/day3 tons/day2 tons/day1 tons/day0 tons/dayKegareta Inc.$40$85$135$190$250Sucio Enterprises$120$175$250$345$460 Suppose the government wants to reduce pollution by 50 percent by imposing a tax of $T per day on each ton of smoke emitted. Of the options listed, what's the smallest tax, $T, that will achieve this goal?
A. $51 B. $61 C. $56 D. $54