Which of the following is included in both M1 and M2?
a. savings deposits
b. demand deposits
c. small time deposits
d. money market mutual funds
b
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In the long run, all firms in a monopolistically competitive industry make
A) negative accounting profit. B) zero accounting profit. C) an economic profit. D) zero economic profit.
Transfer payments provide benefits to
a. all those in need b. those who have paid into governmental funds through their workplace c. those who are eligible recipients d. those who provide some service to the government e. anyone transferring from one stage of their life to another
Suppose that Canada decides to peg its dollar ($C, or the loonie) to the U.S. dollar at an exchange rate of $C1 = $US1. What will happen to Canadian interest rates as a result of the leftward shift of the U.S. IS curve?
A) They will rise. B) They will fall. C) They will not change. D) The IS curve will show an increase.
In perfect competition, a firm's demand curve
A. is always below the marginal revenue curve facing the firm. B. is always above the marginal revenue curve facing the firm. C. intersects the marginal revenue curve when marginal revenue is minimized. D. and the marginal revenue curve facing the firm are identical.