The M1 measure of money consists of the sum of
A. currency, checking deposits, and savings deposits.
B. currency, checking deposits, and travelers' checks.
C. checking deposits and travelers' checks.
D. currency and travelers' checks.
Answer: B
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Suppose that, in a sequential game, the first player chooses the strategy with the highest payoff, taking into account an optimal response from the second player. The outcome that results is
a. a Nash equilibrium. b. Pareto optimal. c. a Prisoners' Dilemma. d. a Stackelberg equilibrium.
How did Adam Smith explain the cause of the wealth of nations?
A) The growth of the middle class B) The growth in the average level of prices C) The growth of the division of labor D) People's unending urge to consume
Which of the following is false?
A. For bond buyers, the higher the yield the better it is for them. B. For bond buyers, the higher the price of the bond the better it is for them. C. For bond buyers, the lower the yield the worse it is for them. D. The term yield on a bond is the same as the term interest rate on a bond.
Jack lost his job six months ago, and he's been actively looking for a new job ever since. The Bureau of Labor Statistics would classify Jack as
A) unemployed. B) out of the labor force. C) a discouraged worker. D) all of the above.