An economic ________ is a simplified version of some aspect of economic life used to analyze an economic issue

Which of the following is true? a. Checking account deposits and time deposits constitute assets of banks

b. M2 includes M1, plus saving accounts, time deposits (except for some large-denomination certificates of deposits), and money market mutual funds. c. reserves times the required reserve ratio equals deposits. d. Money is destroyed when banks make loans.

If we depict a simultaneous move, complete information game in a game tree, each player only has one information set no matter how many players there are in the game.

Answer the following statement true (T) or false (F)