The M1 definition of the money supply includes currency,
a. checkable deposits, and savings accounts.
b. checkable deposits, and credit cards.
c. checkable deposits, and debit cards.
d. and checkable deposits.
d
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The effect that a gift given to a U.S. citizen from a foreign resident will have on the balance of payments is to
A) increase the current account balance. B) have no effect on the balance of payments if the gift was made in the U.S. C) have no effect on the balance of payments if the gift was made by a foreign country. D) decrease the balance of payments.
Suppose the saving rate is initially greater than the golden rule saving rate. We know with certainty that a reduction in the saving rate will cause
A) a reduction in the rate of growth in the long run. B) a reduction in output per worker. C) a reduction in consumption per worker. D) all of the above E) none of the above