Which of the following is the largest component of the assets of the Federal Reserve?
a. U.S. Treasury deposits
b. U.S. government securities
c. Foreign exchange
d. Time deposits
e. Checkable deposits
a
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According to the Law of Supply,
a. price and quantity supplied are positively related, c.p. b. firms produce less output as the price of the product rises, ceteris paribus c. marginal cost rises as the firm contracts production d. there is an inverse relationship between output and price, holding all else constant
If you borrow money at a 9% nominal rate and the inflation rate is 2%, what is the real interest rate on the loan?
a. 9.0% b. 11.0% c. 7.0% d. 2.0% e. 4.5%
Who said that the economic profit in a purely competitive economy "will vanish in the subsequent process of competition and adaptation"?
A. Joseph Schumpeter B. David Ricardo C. Frank Knight D. Karl Marx
When a business is calculating its operating costs, it must include _____.
(A) Building rental costs (B) Variable costs (C) Fixed costs (D) Total costs