The most important participants in foreign exchange markets are ________
Fill in the blank(s) with correct word
Commercial banks
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Which of the following is a function of the U.S. federal government?
A) deciding for whom firms should produce goods and services B) distributing private goods and services C) providing the legal and social framework for economic activity D) determining what wages firms will pay their workers. E) deciding how much to produce of private goods and services
The present value of $250,000 in 10 years at 2 percent interest is approximately:
A. $205,087. B. $212,051. C. $305,194. D. $195,085.
The real balance effect (wealth effect), the interest rate effect, and the net exports effect all help to explain the:
A. decrease in supply in the loanable funds market. B. large federal budget deficit. C. increase in short-run aggregate supply. D. downward-sloping aggregate demand curve.
Answer the following questions true (T) or false (F)
1. Economic efficiency is a market outcome in which the marginal benefit to consumers is equal to the marginal cost of production and the sum of consumer surplus and producer surplus is maximized. 2. If marginal benefit is greater than marginal cost, output is inefficiently high. 3. Deadweight loss refers to the reduction in economic surplus resulting from a market not being in competitive equilibrium.