Transactions costs refer to
A) the cost of transporting goods from one destination to another.
B) the raw material cost of production.
C) the costs in time and other resources that parties incur in the process of agreeing to and carrying out an exchange of goods or services.
D) the implicit costs of production.
C
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A bank has $400 in checkable deposits, $800 in savings deposits, $700 in time deposits, $900 in loans to businesses, $300 in outstanding credit card balances, $500 in government securities, $10 in currency in its vault, and $20 in deposits at the Fed
. The bank's deposits that are part of M1 are equal to A) $1,210. B) $1,900. C) $400. D) $410. E) $530.
If Option A costs $40 and yields 20 units of output and Option B costs $50 and yields 30 units of output,
A) Option B and Option A are equally economically efficient. B) Option B is economically efficient relative to Option A. C) Option A is economically efficient relative to Option B. D) It is not possible to determine which option is more economically efficient.