Which of the following is a term for account that the depositor has committed to leaving in the bank for a certain period in exchange for a higher rate of interest?
a. Money market fund
b. Savings deposit
c. Time deposit
d. Checking account
c. Time deposit
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The table above gives the demand schedule for a good. What is the total revenue at point A? At point B? At point C? At point D? At point E?
What will be an ideal response?
Figure 5-11
In Figure 5-11, a consumer is initially at point A. There is a price change and she moves to B. It follows that
A. the demand for beer follows the law of demand. B. the demand for beer does not follow the law of demand. C. wine is an inferior good. D. the consumer is confused.
The above figure shows a graph of the market for pizzas in a large town. At a price of $5, there will be
A) excess demand. B) excess supply. C) equilibrium. D) zero demand.
Historical biography: The entrepreneur who created the General Electric Company was
a. John D. Rockefeller b. Thomas Edison c. James Duke d. Andrew Carnegie e. Alexander Graham Bell