Why are checking account balances included in the M1 definition of the money supply?
a. They are a traditional form of money that pre-dates paper money.
b. They are used to make so many payments.
c. They are backed by gold and silver.
d. They pay interest.
b
Economics
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The more that Clayton earns, the higher is his average tax rate. Clayton faces a ________ income tax
A) regressive B) proportional C) progressive D) flat-rate
Economics
Refer to the diagrams. The solid lines are production possibilities curves; the dashed lines are trading possibilities curves. The data contained in the production possibilities curves are based on the assumption of:
A. imperfect substitutability of resources between beer and pizza production.
B. constant costs.
C. decreasing costs.
D. increasing costs.
Economics