The discount rate represents the interest rate on
A) overnight loans between banks.
B) three-month U.S. securities.
C) municipal bonds.
D) one-year discount bonds.
E) none of the above
D
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"The difference between positive and normative statements is that a positive statement is always true while a normative statement might or might not be true." True or false? Explain
Indicate whether the statement is true or false
A major difference between a single-price monopolist and a perfectly competitive firm is that the
A) monopolist can maximize profit by setting the price of the output where demand is inelastic. B) monopolist can always increase its profits by increasing the price of its output. C) monopolist's marginal revenue is less than price. D) monopolist is guaranteed to earn an economic profit.
The profit-maximizing price of the monopolist compared to the perfectly competitive industry in the above figure are, respectively
A) P1 and P3. B) P1 and P5. C) P1 and P2. D) P2 and P5.
A hierarchy is usually a group of people who issue orders to subordinates
Indicate whether the statement is true or false