Which of the following is not a component of the M2 money supply?
A) Cash in circulation
B) Gold owned by the federal authorities
C) Deposits in checking accounts
D) Any issued traveler's checks
E) All of the above.
B
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The higher the expected rate of inflation,
A) the lower is the nominal rate of interest. B) the higher is the real rate of interest. C) the lower is the real rate of interest. D) the higher the real and nominal rates of interest.
Which of the following statements concerning a pure public good is false?
A. It is impossible to exclude non-taxpayers from the enjoyment of the public good B. All benefits associated with the production and use of a public good are received by the government C. The availability of a public good to one person simultaneously makes it available to all members of society D. The private sector does not have an economic incentive to produce a socially optimal amount of a public good