A debt instrument sold by a bank to its depositors that pays annual interest of a given amount and at maturity pays back the original purchase price is called
A) commercial paper.
B) a certificate of deposit.
C) a municipal bond.
D) federal funds.
B
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The larger the value of U.S. imports, the greater the quantity of ________ causing the quantity supplied of dollars to ________
A) U.S. dollars demanded; increase B) U.S. dollars demanded; decrease C) foreign currency demanded; increase D) foreign currency demanded; decrease
A graph measures y on the vertical axis and x on the horizontal. The curve on the graph is a vertical line. From this fact we know that
A) the value of x does not change when the value of y changes. B) the value of y is constant. C) the ratio of x to y is constant. D) the ratio of y to x is constant.
Union membership declined during the 1920s due to:
a. failure of a number of strikes. b. increase in real wages left the labor force satisfied. c. firms' use of "yellow-dog" contracts. d. poor union leadership. e. All of the above.
Which of the following is true when an economy produces at full employment, but consumers, government, businesses, and the foreign sector do not buy all the output?
A. Inventories are depleted. B. Unemployment falls. C. The price level rises. D. There is a recessionary gap.