Savings and loan associations created which type of money?
a. demand deposit accounts
b. money market mutual fund accounts
c. NOW account deposits
d. money market mutual deposit accounts
e. share-draft accounts
C
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Does the fact that monopolistically competitive firms do not achieve productive efficiency or allocative efficiency mean that there is a significant loss in consumer welfare?
What will be an ideal response?
Which of the following would increase GNP in the United States?
A) an increase in the production of Japanese-owned Toyota cars in the U.S. B) an increase in the production of Japanese-owned Toyota cars in Mexico C) an increase in the production of Mexican-owned Grupo Minsa corn in the U.S. D) an increase in the production of U.S.-owned General Motors cars made in Mexico
The function of money that provides for a commonly recognized measure of value for the price system is a(n)
A. medium of exchange. B. unit of accounting. C. store of value. D. standard of deferred payment.
The condition for profit-maximization for competitive firms and monopolies is the same: marginal revenue equals marginal cost. Hence, monopolies are efficient.
Answer the following statement true (T) or false (F)