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In a country on a gold standard, the quantity of money is determined by the:


A) government.
B) central bank.
C) amount of gold.
D) buying and selling of government securities.

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Economists use the term money to refer to:


A) income.
B) profits.
C) assets used for transactions.
D) earnings from labor.

Correct Answer

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Money market mutual fund shares are included in:


A) M₁ only.
B) M₂ only.
C) both M₁ and M₂.
D) neither M₁ nor M₂.

Correct Answer

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