If the Currency in Circulation Is $100 Million, Checkable Bank

question 134

Multiple Choice

If the currency in circulation is $100 million, checkable bank deposits are $500 million, savings deposits are $300 million, and traveler's checks are $10 million, then M1 is:

• A) $100 million.
• B) $410 million.
• C) $610 million.
• D) $900 million.

Distinguish between goods that are necessities and luxuries in terms of their price elasticity.

Understand how the proportion of the budget spent on an item affects its price elasticity of demand.

Identify the factors that do not affect the price elasticity of demand.

Understand the concept of cross-price elasticity of demand.

---

Definitions:

Evaporation

The process by which liquid turns into vapor.

Viscosity

A measure of a fluid's resistance to flow, with higher viscosities indicating thicker, less pourable fluids.

Hematocrit

A measure of the percentage of red blood cells in a volume of blood.

Seizures

Sudden, uncontrolled electrical disturbances in the brain that can cause changes in behavior, movements, feelings, and levels of consciousness.