Which of the following is true of M1?
a. It is equal to M2.
b. It consists of all near-monies.
c. It consists of certificates of deposit.
d. It is the broader definition of money.
e. It is only a fraction of M2.
Question 2
At the market output and price for a good whose production causes pollution:
a. pollution is eliminated.
b. the marginal social cost of production exceeds the marginal social benefit of production
c. the private cost of production equals the private benefit of production.
d. the marginal social benefit of production equals the marginal social cost of production.
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