Which of the following is NOT included in M1?
A) deposits in checking accounts B) deposits in checking accounts that pay interest
C) savings accounts D) traveler's checks
C
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Which of the following is not a category of state and local government outlays?
A) purchases of goods and services B) grants in aid C) transfer payments D) interest payments
Which of the following is an outcome of trade depicted in Exhibit 4?
a. Through trading with Calvin, Wendy’s food production has declined from 10 pounds to 7 pounds per day.
b. The exchange has been unfair to Wendy because a pound of her food is more valuable than a pound of Calvin’s cloth.
c. The exchange has been unfair to Calvin because he has only 3 pounds of food, whereas Wendy has 7 pounds.
d. Wendy and Calvin each enjoy a larger combination of food and cloth than they could have produced alone.