The area ________ the market supply curve and ________ the market price is equal to the total amount of producer surplus in a market
A) below; below B) below; above C) above; below D) above; above
C
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People have a strong incentive to form rational expectations because
A) they are guaranteed of success in the stock market. B) it is costly not to do so. C) it is costly to do so. D) everyone wants to be rational.
What interest rate does a bank pay when it borrows reserves from the Fed?
a. The discount rate. b. The prime rate. c. The federal funds rate. d. The required reserve rate.
Taxes and needs-tested spending work as automatic fiscal policy to dampen the business cycle because taxes _______ during an expansion, and needs-tested spending _______ during a recession.
Fill in the blank(s) with the appropriate word(s).
Which of the following assets decreases the most in purchasing power during inflation?
A. government bonds B. real estate C. savings account money D. cash