The counterparty of someone buying a futures contract on the Chicago Board of Trade is::
A) Chicago Board of Trade
B) hedger
C) speculator
D) trader
A
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The self-correcting tendency of the economy means that falling inflation eventually eliminates:
A. exogenous spending. B. recessionary gaps. C. expansionary gaps. D. unemployment.
Refer to the scenario above. Which of the following problems is likely to arise in the market for used cell phones in Barylia?
A) The tragedy of the commons B) The paradox of thrift C) Adverse selection D) Free-rider problem
For many jobs, as wages increase, the quantity supplied of labor increases. This set of facts is evidence that the
A) substitution effect is larger than the income effect and the supply of labor curve is upward sloping. B) income effect is larger than the substitution effect and the supply of labor curve is upward sloping. C) substitution effect is larger than the income effect and the supply of labor curve is backward bending. D) income effect is larger than the substitution effect and the supply of labor curve is backward bending.
"Real money balances" refers to
A) the currency part of the total money supply. B) the money supply divided by the price level. C) the money supply times one minus the interest rate. D) the non-interest-earning part of the money supply.