In the economic sense, almost everything is scarce. ________ of a good or service occurs when the quantity demanded is greater than the quantity supplied at the current market price
A) Scarcity B) A surplus C) An overstock D) A shortage
D
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Bank borrowing from the Fed is referred to as:
A) federal funds B) discount loans C) repurchase agreements D) reverse repurchase agreements
Inflation plays a major role in determining whether a currency is appreciating or depreciating
a. True b. False Indicate whether the statement is true or false
If an economy is experiencing deflation, a decrease in the price level, then the most advantageous actions would be
A. borrowing money at a fixed interest rate and buying a house. B. borrowing money at a fixed interest rate and buying land. C. keeping money in a checking account. D. keeping your wealth in gold and other precious metals.
Which of the following is not an example of price discrimination?
A. discounted coffee for senior citizens at restaurants B. back-to-school sales C. student discounts at movie theaters D. airlines charging lower prices to travelers who stay over a Saturday night