M1 differs from M2 because ________
A) M2 includes components that are less liquid than any component of M1
B) M1 does not include savings deposits and M2 does
C) M1 is included in M2 but M2 has more components
D) all of the above
E) none of the above
D
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Suppose Al, Betty, and Carl own the only fishing companies in your village. Suppose the market price today is $10 per fish. Suppose Al catches 4,000 fish with an average total cost of $7.50, Betty catches 6,000 fish with an average total cost of $6, and Carl catches 10,000 fish with an average total cost of $5 . What is the average profit per fish in the village today?
a. $2.40 b. $4.20 c. $3.80 d. $2 e. $5
A country that must inhibit imports should give preference to
a. quotas over tariffs because quotas are less likely to distort trade patterns between nations. b. tariffs over quotas because, unlike quotas, tariffs offer no special benefits to inefficient exporters. c. export subsidies over quotas or tariffs because export subsidies can protect a nation's domestic producers. d. an embargo wherever possible because an embargo can serve as a political weapon in addition to being a "trade stopper."