Government securities with terms of more than one year are called
A. government bonds.
B. capital bills.
C. Treasury bills.
D. federal funds bonds.
Answer: A
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The original (1958 ) Phillips curve
A) showed that stagflation is inevitable. B) showed the tradeoff between the use of monetary and fiscal policy. C) has never been used as an important economic policy tool. D) suggested a tradeoff between wage inflation and the unemployment rate. E) none of the above
For an oligopoly, a few firms cannot dominate in the long run unless
A. A firm has a high concentration ratio. B. Barriers to entry exist. C. The market is contestable. D. A cartel is formed.
Refer to the above figure. Saving occurs at
A. only at point A. B. to the left of point B. C. only at point B. D. to the right of point B.
Steve has two choices for taking classes. Each is three credits and meets three hours a week, so we assume they have equal monetary costs. If Steve chooses to take a modern dance class instead of an economics class, it must be that for Steve the opportunity cost of taking a modern dance class exceeds the opportunity cost of taking an economics class.
Answer the following statement true (T) or false (F)