Checks received by the firm and deposited but not yet cleared represent
a. payment float
b. availability float
c. net float
d. cash in hand
e. none of these
b. availability float
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If the market for beef cattle was initially in equilibrium, an increase in the price of the feed grains used to fatten cattle would cause
a. the demand for beef cattle to increase, driving the price of beef upward b. the supply of beef cattle to decline, driving the price of beef upward in the long run c. the supply of beef to increase, placing downward pressure on the price of beef in the long run d. both supply and demand to fall, leaving the price of beef virtually unchanged e. the supply of beef to increase, driving the price of beef down and increasing demand
When a producer's demand curve is a horizontal straight line, we know that
a. market demand is horizontal as well b. there is considerable brand loyalty for the producer's good c. the producer is a monopolist d. the producer has significant market share e. the producer is in a perfectly competitive industry
Suppose a basket of goods and services has been selected to calculate the consumer price index. In 2005, the basket of goods cost $108.00; in 2006, it cost $135.00; and in 2007, it cost $168.75 . Which of the following statements is correct?
a. Using 2005 as the base year, the economy's inflation rate was higher in 2007 than it was in 2006. b. If 2007 is the base year, then the CPI is 33.75 in 2006. c. If the CPI is 156.25 in 2007, then 2005 is the base year. d. Using 2005 as the base year, the economy's inflation rate for 2006 was 27 percent.
Which of the following correctly describes actions of the U.S. government during the recession of 2008-2009?
a. It refused to provide banks funding and made no significant changes in government spending. b. It refused to provide banks funding but made a large increase in government spending. c. It became part owner of some banks but made no significant change in government spending d. It became part owner of some banks and made a large increase in government spending.