If you have assets that include 50 in cash, a checking account ...

[Bob-Dole]

If you have assets that include 50 in cash, a checking account with 135, a savings account with 500, and a jar of coins for laundry of 15.75, how much M1 do you have?
 
  What will be an ideal response?

Question 2

Every year as the clock nears midnight on December 31st, the eyes of the world turn to Times Square in New York City to watch the famous ball drop at midnight.
 
  The event is open to everyone, but it is advised you arrive early to be able to participate because the square quickly becomes crowded with no space left for latecomers. This celebration is most like a A) common resource.
  B) public good.
  C) private good.
  D) natural monopoly.

[k2629]

Answer to Question 1

You have 200.75 of M1, comprised of the 50 in cash, plus the 135 in the checking account, plus the 15.75 jar of coins.

Answer to Question 2

A