One effect of speculators is to iron out price fluctuations because this is the way they make their profits
a. True
b. False
Indicate whether the statement is true or false
True
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A debt instrument sold by a bank to its depositors that pays annual interest of a given amount and at maturity pays back the original purchase price is called
A) commercial paper. B) a certificate of deposit. C) a municipal bond. D) federal funds.
The welfare loss of monopoly is also called
a. converted consumer surplus b. deadweight loss c. economic profit under monopoly d. producer surplus e. contestable profit
A leftward shift of a product supply curve might be caused by:
A. an improvement in the relevant technique of production. B. a decline in the prices of needed inputs. C. an increase in consumer incomes. D. some firms leaving an industry.
Extensive government restrictions on the use of capital are likely to
A. enhance economic freedom. B. create dead capital. C. enhance economic growth. D. result in capital resources being devoted to their most efficient uses.