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Which of the Following Is NOT Included in the M1

question 579

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Which of the following is NOT included in the M1 measure of money?


Definitions:

Purely Competitive Firm

A firm that operates in a market where there are many buyers and sellers, all products are identical, and there are no barriers to new firms entering the market.

Vertical Axis

The “up-down” or “north-south” measurement line on a graph or grid.

Marginal Revenue

The financial gain from disposing of one extra unit of a product or service.

Average Revenue

The amount of income generated per unit of sale or the total income divided by the number of units sold.

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