The monetary base is the sum of:
A. currency in the hands of the public M1.
B. currency in the hands of the public and M2.
C. reserves and currency in the hands of the public.
D. reserves and M2.
Answer: C
Economics
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Most economists agree that valid reasons for protecting trade include which of the following? I. The economies of scale argument II. The saving jobs argument III. The protection of high wages argument
A) I only B) I and II C) I and III D) None of the reasons are valid.
Economics
Let MP = marginal product, P = output price, and W = wage, then the equation that represents the condition where a competitive firm would hire another worker is
A) P × MP > W. B) P × MP = W. C) P × W > MP. D) P × MP < W.
Economics