Author Question: Credit cards were introduced in 1959. In 2014, the U.S. credit card balance was 880 billion. Which ... (Read 153 times)

michelleunicorn · **on:** Jun 29, 2018

Credit cards were introduced in 1959. In 2014, the U.S. credit card balance was 880 billion. Which of the following is TRUE?

A) The 880 billion balance is part of M2 but not part of M1.
B) The 880 billion balance is part of both M1 and M2.
C) Only that portion of the 800 billion actually charged in 2009 is counted in M1 and M2.
D) No part of the 880 billion balance is counted in M1 and M2.

Question 2

If the price of a hot dog is 2 and the price of a hamburger is 4, then the

A) relative price of a hot dog is 1/2 of a hamburger per hot dog.
B) money price of a hot dog is 2 hamburgers per hot dog.
C) relative price of a hamburger is 1/2 of a hot dog per hamburger.
D) money price of a hamburger is 2 hot dogs per hamburger.