1. The social marginal cost of the production of snowobiles
A) is less than the marginal external cost of production
B) does not include the carbon emissions from snowmobiles
C) is greater than the sum of the private marginal cost and external cost
D) does not include the increased risk of accidents caused by the operation of snowmobiles
E) includes the noise pollution imposed on those living near snowmobile trails.
2. Which of the following is true?
a. In addition to the M1 money supply, the M2 money supply measure includes a number of highly liquid savings deposits.
b. The M1 money supply is larger than the M2 money supply.
c. Currency is the only component of the M1 money supply.
d. Outstanding credit card balances are included in the M2 money supply, but not the M1 figures.