What a firm must pay for its inputs is referred to as its:
A) production value.
B) cost of production.
C) opportunity cost.
D) loss in production.
B
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Suppose on any given day there is an excess supply of reserves in the federal funds market
If the Federal Reserve wishes to keep the federal funds rate at its current level, then the appropriate action for the Federal Reserve to take is a ________ open market ________, everything else held constant. A) defensive; sale B) defensive; purchase C) dynamic; sale D) dynamic; purchase
If a hurricane were to wipe out the majority of the eastern seaboard in the United States, it would likely cause a:
A. short-run supply shock. B. long-run supply shock. C. long-run demand shock. D. short-run demand shock.
Market power creates a flawed response to an accurate price signal.
Answer the following statement true (T) or false (F)
Along with currency not in banks and deposits in checking accounts, what is another component of the M1 measure of money?
A. credit cards B. debit cards C. traveler's checks D. prepaid accounts