According to Nobel Laureate Simon Kuznets,the Greatest Increase in Output

question 53

Multiple Choice

According to Nobel Laureate Simon Kuznets,the greatest increase in output and economic growth comes from changes in the _____.

• A)quantity of resources
• B)quantity of natural resources (land)
• C)quantity of labor
• D)quality of resources
• E)quantity of capital

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Definitions:

M2

M2 is a broader classification of money supply that accounts for currency in circulation and various other types of accounts that are less liquid than those in M1.

M1

Refers to the physical money supply that includes coins and notes in circulation as well as non-bank public holdings of checkable deposits.

M2

Includes all elements of M1 along with near money, such as savings deposits, time deposits under $100,000, and non-institutional money market funds.

M1

This term identifies the core components of the money supply, focusing primarily on currency and liquid assets held by the public.