If a bank borrows from a Federal Reserve Bank, the interest rate is called
A. the discount rate.
B. the prime rate.
C. the Fed funds rate.
D. the reserve availability rate.
Answer: A
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The figure above shows the market for coffee. If 30 pound of coffee a month are available, the ________ price that consumers are willing to pay for the last pound is ________
A) maximum; $4.00 B) minimum; $4.00 C) maximum; $2.50 D) minimum; $2.50
A job candidate refusing to take a drug test for a potential employer is an example of:
A. screening. B. building a reputation. C. signaling. D. principles-based behavior.
A weakness of the price system is that it completely fails to take account consumer preferences in the distribution of goods and services.
Answer the following statement true (T) or false (F)
According to the No Marginal Improvement Principle, if X* is the best choice then at X* it must always be true that:
A. either MB = MC or the activity X is not finely divisible. B. either MB ? MC or the activity X is not finely divisible. C. either MB < MC or MB > MC. D. MB = MC.