Answer the following questions true (T) or false (F)

1. Innovations, including new products and services, in financial markets and institutions have made the job of defining the money supply easier.

2. Most U.S. currency held outside the U.S. banking system is held by foreigners.

3. A person's wealth is the same as his income.

1. FALSE
2. TRUE
3. FALSE

Economics

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Ann Trepreneur was formerly a landlord, renting her building for $1,200 a month. She now uses her building for her own florist shop. Pick the true statement

A) The building costs Ann $1,200 per month. B) Ann incurs no opportunity cost on the building. C) Ann uses the building as a free good. D) None of the above is true.

Economics

Which of the following is NOT a basic assumption of the "Lucas" model?

A) slow adjustment of wages and prices B) rational expectations C) imperfect information D) market-clearing

Economics