Federal funds loans are:
A. unsecured loans.
B. collateralized loans between banks.
C. guaranteed by the FDIC.
D. secured loans between banks and the Fed.
Answer: A
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When economies of scale are present,
A. costs per unit decline as output expands. B. the government feels responsible for breaking up the firm. C. firms always make handsome profits. D. costs fall as the size of the product is increased.
A promise to pay at some time in the future
a. indicates the present value of a future payment. b. is a bond. c. is the interest rate on debt. d. is a dividend.
Eric, a resident of Sweden, purchases a book printed in the U.S. Which country's exports increase?
a. Sweden's
b. the U.S.'s
c. Sweden's and the U.S.'s
d. neither Sweden's nor the U.S.'s
The slope of the perfectly inelastic demand curve is ________, the slope of the perfectly elastic demand curve is ________.
A. one, zero B. zero, undefined C. undefined, zero D. one, one