In a perfectly competitive market, the
a. market demand curve is horizontal
b. short-run market supply curve is horizontal
c. short-run market demand curve slopes upward
d. short-run market supply curve slopes downward
e. market demand curve slopes downward
E
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The difference between bid (buying) rates and ask (selling) rates is called the
A) profit. B) arbitrage. C) spread. D) forward transaction.
Are outstanding credit card balances counted as part of the money supply?
A. Yes; they are used to purchase things, and therefore, they are included in the money supply figures. B. No; money is an asset, while the credit card balances are a liability. Thus, they are not included in the money supply figures. C. Partly; credit card balances of $100 or less are included in the M1 money supply, but the money supply figures do not include balances in excess of $100. D. Partly; credit card balances are included in the M1 money supply, but not the M2 money supply.