Compared to the previous 20 years, productivity growth in the United States increased between 1996 and 2014

When the sale of a good is illegal, it is like setting a price ceiling at zero

a. True b. False Indicate whether the statement is true or false

In defining the money supply (M1), economists exclude savings deposits because

a. the purchasing power of savings deposits is much less stable than that of checkable deposits and currency. b. savings deposits are a form of investment and, thus, a better store of value than money. c. savings deposits are liabilities of commercial banks, whereas checkable deposits are assets of the banks. d. savings deposits are not generally used as a means of payment.