Which of the following is included in M0, but not in M1?
A) demand deposits
B) deposits of depository institutions at the Federal Reserve
C) currency held by the U.S. public
D) U.S. currency held by foreigners
B
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One model in economics is the permanent income hypothesis, which basically states that a household's expenditures will not react to a change in income unless that change in income is viewed as being permanent
How would you use this model to predict the expenditure patterns over the course of a year of a real estate agent who only sells homes during the months of April through July?
In the "Prisoners' Dilemma" game: a. When the prisoners follow their dominant strategy and confess, both will be worse off than if each had remained silent. b. a player would be better off if he did not confess and the other player confessed
c. a player would be better off if both he and the other player confessed. d. None of the above is true.
Although state and local taxes are highly progressive, federal taxation is predominantly regressive.
Answer the following statement true (T) or false (F)
Suppose a U.S. government program subsidizes the production of domestic sugar producers and places a tariff (tax) on the importation of sugar from other countries. This program
A) helps the producers of sugar, but increase the opportunity cost of obtaining it. B) will reduce the opportunity cost of obtaining sugar and therefore lead to lower sugar prices. C) creates wealth, because the government is providing the subsidies and imposing the tariffs. D) promotes the production of goods that consumers value highly relative to cost.