In economics, the term "leisure" refers to:
A. nonwork activities that individuals enjoy doing.
B. those activities that individuals enjoy doing.
C. all nonwork activities.
D. the vacation time on receives when working.
C. all nonwork activities.
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Everything else held constant, in the market for reserves, when the supply for federal funds intersects the reserve demand curve along the horizontal section of the demand curve, lowering the interest rate paid on excess reserves
A) increases the federal funds rate. B) lowers the federal funds rate. C) has no effect on the federal funds rate. D) has an indeterminate effect of the federal funds rate.
Compared with a system of fixed exchange rates, currency unions are beneficial because they
A) restrict what countries can do with fiscal policy. B) allow exchange rates to float. C) allow every country to have an independent monetary policy. D) eliminate the possibility of speculative attacks.
Economists claim that a resale price maintenance agreement is not anti-competitive because
a. suppliers are never able to exercise noncompetitive market power. b. if a supplier has market power, it will be likely to exert that power through wholesale price rather than retail price. c. retail markets are inherently noncompetitive. d. retail cartel agreements cannot increase retail profits.
The public often overestimates the negative effects of inflation due to a focus on nominal rates of interest.
Answer the following statement true (T) or false (F)