The largest component of our M1 money supply is
a. currency
b. travelers' checks
c. savings accounts
d. money market accounts
e. demand deposits and other checkable deposits
E
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Suppose that IS and LM intersect at full-employment output. A leftward shift of LM will be followed by a __________ price level that shifts LM to the __________ in a return to full employment
A) rising; right B) rising; left C) falling; right D) falling; left
When Firm A increased its production last year, its average total cost of production decreased. On the other hand, Firm B also increased its production last year, but its average total cost of production increased. Considering the given situation, which of the following statements is true of the two firms?
a. The size of the plant in Firm A is smaller than the size of the plant in Firm B. b. Firm A is operating with increasing returns to scale, while Firm B is operating with decreasing returns to scale. c. Firm A is operating with decreasing returns to scale, while Firm B is operating with increasing returns to scale. d. Firm A invests more on labor and cheaper variable costs, while Firm B invests more in expensive machinery.
Historically, when a diverse set of stocks is held over a lengthy time period, stocks have yielded a ______ rate of return and the variation in the rate of return has been _______. (Fill in the blanks)
A) low; high B) high; high C) high; low D) low; low
Other things equal, which of the following might shift the demand curve for gasoline to the left?
A. The discovery of vast new oil reserves in Montana. B. The development of a low-cost electric automobile. C. An increase in the price of train and air transportation. D. A large decline in the price of automobiles.