An important market for overnight borrowing and lending is the
A) commercial paper market.
B) repo market.
C) Treasury bill market.
D) Treasury bond market.
B
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An increase in labor force participation will increase output and living standards at the cost of
a. higher taxes b. higher interest rates c. longer work weeks d. foregone leisure time e. higher exports
Suppose that a firm chose an output level where the total cost and total revenue curves intersect. At this level of output,
a. the firm is maximizing profits b. the firm is minimizing losses c. profit is zero d. total revenue is maximized e. total cost is minimized
GDP is measured in terms of market value because:
a. Actually, GDP is not measured as a market value. GNP measures market values. b. Otherwise, it would be impossible to combine all the heterogeneous goods and services consumed in a nation. c. Otherwise, it would be impossible to combine all the heterogeneous goods and services produced in a nation. d. Otherwise, it would be impossible to combine domestically produced goods and services with foreign goods and services consumed by the public. e. Otherwise, it would be impossible to separate the domestically produced goods and services from foreign goods and services consumed by the public.
For a vertical demand curve,
a. the slope is undefined, and the price elasticity of demand is equal to 0. b. the slope is equal to 0, and the price elasticity of demand is undefined. c. both the slope and price elasticity of demand are undefined. d. both the slope and price elasticity of demand are equal to 0.