As of 2013, the outstanding U.S. currency is more than 1 ...

[j.rubin]

As of 2013, the outstanding U.S. currency is more than 1 trillion, which suggests that the typical U.S. citizen holds 3,600 in cash. Is this an accurate inference? Why?
 
  A) Yes; because dividing total currency by total U.S. population roughly works out to 3,600 per person.
  B) No; because criminals and foreigners hold large sums of dollars, so the average citizen holds far less.
  C) No; because the average citizen probably does not have 3,600 in her checking account.
  D) Yes; because the Fed rarely makes accounting mistakes when computing M1.
  E) none of the above

Question 2

A consumption bundle
 
  A) is a particular combination of consumption and leisure.
  B) only measures a quantity of goods and services, but not the amount of leisure.
  C) is a method of bringing home consumption goods.
  D) measures the quality of a particular good.

[janeli1]

Answer to Question 1

B

Answer to Question 2

A

[j.rubin]

Excellent

[matt95]

TYSM