________ refers to the revenue earned from coinage by a sovereign government when the face value of the coinage exceeds the cost of producing the coinage
a. Treason
b. Piracy
c. Inflation
d. Seignorage
d
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If the Fed makes an open market purchase of $1 million of government securities, the monetary base
A) is unchanged in size, though its composition changes. B) will decrease by a multiple of $1 million over time. C) will increase by a multiple of $1 million over time. D) is decreased by $1 million. E) is increased by $1 million.
A German publishing company buys an American publishing company based in New York. In the U.S. balance of payments accounts, this transaction directly appears in
A) the official settlements account. B) the imports part of the current account. C) the net transfers part of the current account. D) the capital and financial account.
The owners of a corporation are
A) the employees of the firm. B) the shareholders. C) completely in control of the firm. D) taxed only once.
In the short-run, firms in a monopolistically competitive market will earn zero economic profit
a. True b. False