Credit cards perform the same functions as money as long as the card holder's bank account has sufficient funds to allow the transactions
a. True
b. False
Indicate whether the statement is true or false
False
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In the United States, the poorest 50 percent of households own about ________ of total wealth
A) 1 percent B) 10 percent C) 20 percent D) 30 percent
Menu costs ________
A) are the cost a firm bears when it changes its prices B) are one source of price stickiness because changing prices involves many hidden costs C) are one source of price stickiness because firms may not want to change their "menus" too often and risk alienating customers D) all of the above E) none of the above
At the profit-maximizing output level, an increase in price by a perfectly competitive firm will:
a. cause an increase in profits. b. reduce total cost more than total revenue. c. increase total revenue more than total cost. d. increase total cost more than total revenue. e. cause the firm to lose all of its sales.
When the Fed makes bonds more or less attractive, it influences the:
A. Open market decision. B. Money multiplier. C. Portfolio decision. D. Reserve decision.