An closest example of a risk-free security is
a. General Motors bonds
b. AT&T commercial paper
c. U.S. Government Treasury bills
d. San Francisco municipal bonds
e. an I.O.U. that your cousin promises to pay you $100 in 3 months
c
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To sell an extra unit of output, a perfectly competitive firm ________, and an imperfectly competitive firm ________.
A. need not alter its price; must lower its price B. must hope the market price falls; must lower its price C. must lower its price; must lower its price D. need not alter its price; need not alter its price
Instrument independence is the ability of ________ to set monetary policy ________
A) the central bank; goals B) Congress; goals C) Congress; instruments D) the central bank; instruments
When the Fed's chairman, Alan Greenspan, expresses his concern about economic conditions and warns about possible economic problems, he is using
a. one of the most effective tools of monetary policy b. or rather misusing his position because Fed members should not express personal views on policy c. the media to set his policies against the government's, otherwise he would not have gone public with them d. the media to demonstrate that the Fed and government are planning consistent monetary and fiscal policies e. moral suasion
According to new trade theory, first movers in an industry can gain a scale-based _____ advantage that later entrants find almost impossible to match.
Fill in the blank(s) with the appropriate word(s).