An innovation that blurred the distinction between brokerage firms and commercial banks was Merrill Lynch's development in 1977 of the
A) cash management account.
B) money market mutual fund.
C) individual retirement account.
D) discount brokerage.
A
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Explain the three different types of money demand
What will be an ideal response?
A tax levied on the purchase of a specific good or service is
A) an excise tax. B) a consumption tax. C) a purchase tax. D) a value tax.
The sales manager of a retail outlet suggests that the best way to increase customers is to have a sale. If a 10 percent price cut doesn't bring in enough customers, then he'll cut prices 20 percent. Increased cash flow should take care of profits. Do you agree? Explain
Fiscal policy may not be effective because of
A. the zero lower bound. B. the LM curve's dominant role in determining the short-run equilibrium. C. lags. D. a liquidity trap.