The term federal funds market refers to the market for overnight interbank reserve loans
a. True
b. False
Indicate whether the statement is true or false
True
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Which of the following will increase the wage rate?
A) an increase in the adult population B) an increase in the retirement age C) an improvement in technology that increases the marginal product of labor D) Both answers A and B are correct.
Salt, for example, as it is used in part of Ethiopia, is an example of
A) commodity money. B) commodity-backed paper currency. C) barter currency. D) fiat money.
If other factors are held constant, what happens when the federal government finances a growing budget deficit by increasing the amount it borrows from the private sector?
A) There will be an increase in the interest rate. B) There will be a decrease in the interest rate. C) The crowding out effect will be cancelled out. D) There will be an increase in net exports.
If price were increased from $25 to $26 and quantity demanded fell from 10 to 9, calculate elasticity; state whether demand is elastic, unit elastic, or inelastic; and find out how much total revenue was when price was $25 and $26.
What will be an ideal response?