M2 includes M1 plus
A) currency in circulation, checking account deposits in banks, and holdings of traveler's checks.
B) savings account balances, money market deposit accounts in banks, small-denomination time deposits, and noninstitutional money market fund shares.
C) checking account deposits, large-denomination time deposits, and noninstitutional money market fund shares.
D) currency in circulation, savings account balances, and small-denomination time deposits.
Answer: B
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If the regulator wants to avoid any deadweight loss in a natural monopoly market, the regulator has the firm set its price equal to its
A) average fixed cost. B) average total cost. C) average variable cost. D) marginal cost.
A conflict between an owner and a manager may occur when
A) the manager earns more when the firm has higher profits. B) the manager is seeking to maximize leisure time. C) the owner can easily observe the manager slacking off and punish him accordingly. D) the firm is very small and the manager must perform multiple tasks.