M1 refers to:
a. Federal Reserve Notes and gold certificates.
b. Currency held by the public plus checking account balances.
c. The largest of the money-supply definitions.
d. None of these.
Question 2
A strength of the market economy is that:
a. it results in an equal distribution of wealth.
b. resources are used efficiently.
c. planners rather than consumers determine answers to the basic economic questions.
d. information for production and distribution decisions passes directly from the government to buyers.
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