Debt instruments that have maturities less than one year are traded in the:
A. money market.
B. primary market exclusively.
C. bond markets exclusively.
D. bond market if they are already in existence.
Answer: A
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As a store of value, money
A) does not earn interest. B) cannot be a durable asset. C) must be currency. D) is a way of saving for future purchases.
Consumers buy less of a good as its price increases because:
a. production costs have risen. b. substitute goods are now relatively cheaper. c. the income of consumers has effectively risen. d. the higher price will make the good more valuable to each consumer.
If the price of cereal increases by 10 percent and the amount of milk demanded decreases by 2 percent, then the cross-price elasticity of these goods is:
A. - 0.2 B. 5. C. 0.2. D. - 5.
If firms in a monopolistically competitive industry are operating with positive economic profit, over time we would see
A) firms alter their advertising rates until they made at least normal profits. B) some firms entering the industry, causing the market supply curve to shift to the right, lowering price. C) some firms entering the industry, causing the demand curves of the existing firms to shift to the left. D) some firms entering the industry, causing the demand curves of the existing firms to shift to the right.