Which interest rate is typically the lowest?
A) 3-month Treasury bills
B) 2-year Treasury notes
C) 10-year Treasury bonds
D) 30-year Treasury bonds
A
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To explore the rationale for specialization, economists use the
A) real-nominal principle. B) principle of opportunity cost. C) marginal principle. D) principle of marginal exchange.
The opportunity cost of holding money increases when: a. the interest rate rises
b. the interest rate falls. c. the price level falls. d. nominal GDP rises. e. nominal GDP falls.
Why does a change in GDP affect unit costs and the price level?
a. as GDP increases, productivity increases. b. as GDP increases the price of non-labor inputs increases and the nominal wage tends to increase. c. as GDP decreases, there are efficient gains d. as GDP increases, economies of scale allow for lower unit costs. e. as GDP increases the price of non-labor inputs decreases and the nominal wage tends to increase.
In general, personal income taxes
A) rise automatically during a recession. B) rise automatically during an expansion. C) rise automatically during a contraction. D) are decreased during a recession through legislative actions of Congress.