Given that Sandy can produce 10 economics reports or 2 sales calls and Tim can produce 2 economics reports or 1 sales call, which of the following would NOT be a mutually agreeable terms of trade for Sandy and Tim?
A) 1 economics report for 1 sales call
B) 1 sales call for 3 economics reports
C) 1 sales call for 4 economics reports
D) 1 economics report for 1/4 of a sales call
A
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The federal funds rate is not just targeted by the Fed but is determined by the Fed. Market forces are irrelevant
a. True b. False
If supply is upward-sloping and demand is downward sloping, what happens to the equilibrium real, risk-free interest rate and quantity of real loanable funds per time period if there is a decrease in government deficits:
a. The real risk-free interest rate rises and the quantity per time period falls. b. The real risk-free interest rate rises and the quantity per time period rises. c. The real risk-free interest rate falls and the quantity per time period falls. d. The real risk-free interest rate falls and the quantity per time period rises. e. The real risk-free interest rate falls and the quantity per time period is uncertain.
If in the process of calculating GDP, the market value of all intermediate goods is added to the market value of all final goods, this would
A) overstate the actual value of GDP. B) produce the correct value of GDP. C) understate the actual value of GDP. D) avoid the possible error of double counting.
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.