The money supply (M1) includes currency held by the public plus
A. Balances in most savings accounts and money market mutual funds.
B. Transactions accounts plus money market mutual funds.
C. Currency held by the Fed and Treasury and transactions accounts.
D. Transactions accounts plus travelers checks.
Answer: D
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A good measure of the standard of living is
A) total real GDP. B) real GDP per capita. C) total nominal GDP. D) nominal GDP per capita.
In the Central Utah Project, the water delivered from dams to users
a. is very well utilized, because planners allocated water to its highest valued uses and users. b. cannot generally be traded, so is often wastefully used in low-valued uses. c. is often sold to water-short cities by farmers who can then enjoy a profit from the sale. d. is very expensive to the users who get it.