Spot exchange typically involves:
A. some transaction costs.
B. long-term contracts.
C. extremely high transaction costs.
D. no transaction costs.
Answer: A
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In the short run, a federal budget deficit will most likely _____
a. stimulate aggregate supply b. reduce federal debt c. boost economic growth d. reduce national saving e. boost domestic saving
Most goods are:
A. exclusive. B. public goods. C. rival in consumption. D. nonrival in consumption.
A debit card
A. is considered part of M1. B. is just like credit card in that you pay for it with a check at a later time. C. purchase takes money out of your checking account. D. is considered part of M2.
A monopolistic competitor is like a monopolist in the short run in that when economic profits are
A) equal to zero, price equals marginal cost. B) equal to zero, price below marginal cost. C) greater than zero, changes in output are due to changes to plants by existing firms and there is no entry. D) greater than zero, price exceeds marginal cost.