The _____ rate is the interest rates charged when a bank lends reserves to another bank
A) federal funds
B) discount
C) prime
D) reserve rate
Ans: A) federal funds
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Profits resulting from luck can be distinguished from profits attributable to shrewd predictions by
A) calculating the opportunity cost of earning the profits. B) comparing the profits with interest rates. C) finding out whether they lead to reduced revenue or increased costs. D) no known empirical test. E) whether or not they were generally anticipated.
Providing public goods is a(n)
A) economic function of government. B) political function of government. C) economic and political function of government. D) price system function.
Assume the market was in equilibrium in the graph shown. If the market price gets set to $7, which of the following is true?
A. Some producers gain surplus, but total surplus falls.
B. Some producers lose surplus, but total surplus rises.
C. Some consumers gain surplus, but total surplus falls.
D. Some consumers lose surplus, but total surplus rises.
Which of the following is true of per capita GDP and GDP per hour worked?
a. Per capita GDP is smaller than GDP per hour worked b. Per capita GDP is larger than GDP per hour worked. c. Per capita GDP is a common measure of estimating U.S. productivity in business sectors. d. GDP per hour worked shows the average quantity of available goods and services per person.