M1 includes:
a. cash and travelers' checks
b. cash, checking account balances, and travelers' checks.
c. cash, travelers checks', and bank deposits
d. cash, checking account balances, and saving account balances.
b
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Comparisons of the link between the growth of the money supply and inflation indicate that
a. countries with high rates of monetary growth also experience high inflation. b. countries with high rates of monetary growth experience low inflation. c. monetary growth rates and inflation are unrelated. d. inflation is primarily the result of restrictive monetary policy.
Suppose the economy is in long-run equilibrium. In a short span of time, there is a large influx of skilled immigrants, a major new discovery of oil, and a major new technological advance in electricity production. In the short run, we would expect
a. the price level to rise and real GDP to fall. b. the price level to fall and real GDP to rise. c. the price level and real GDP both to stay the same. d. All of the above are possible.
Refer to the information provided in Table 14.3 below to answer the question that follows. Table 14.3B's Strategy ?AdvertiseDon't Advertise??A's profit $75 millionA's profit $200 million?AdvertiseB's profit $75 millionB's profit $50 millionA's Strategy????Don'tA's profit $50 millionA's profit $100 million?AdvertiseB's profit $200 millionB's profit $100 millionRefer to Table 14.3. What is the Nash equilibrium in the game?
A. (Don't Advertise, Advertise) B. (Don't Advertise, Don't Advertise) C. (Advertise, Advertise) D. (Advertise, Don't Advertise)
Which choice below is an argument that more technological change occurs in more competitive market structures?
A. Oligopolistic firms earn the profits to pay for research; competitive firms do not. B. Most large, oligopolistic firms such as AT&T have done a great deal of research. C. The "high-tech revolution" grew out of many tiny start-up operations. D. Small firms are too "lean and mean" to support any research and development.