The M1 measure of the money supply equals
A) currency plus checking account balances plus traveler's checks plus savings account balances.
B) currency plus checking account balances plus traveler's checks.
C) currency plus checking account balances.
D) paper money plus coins in circulation.
B
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Data on the U.S. income distribution suggest that
a. black-white income differentials have decreased b. black-white income differentials have increased c. the distribution of income among blacks is more uneven than the overall distribution of income d. the distribution of income among blacks is less uneven than the overall distribution of income e. the distribution of income among blacks follows approximately the same pattern as the overall distribution of income
One reason why it is difficult to regulate a natural monopoly is
a. the lack of relevant economic theory b. determining what price the firm is actually charging its customers c. determining the appropriate side payment d. an information problem — the monopoly's managers have an incentive to overstate costs e. an information problem — the monopoly's managers have an incentive to overstate revenues