Which of the following is a derivative financial asset?
A) A mortgage
B) Commercial paper
C) A Treasury bill
D) A financial futures contract
D
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If the economy is at point 1 in Figure 13.1 and there is no policy intervention, what happens next?
A) the economy moves to point 2 B) the economy remains at point 1 C) the economy moves to the left along the AS curve D) the AS curve shifts down, causing both output and inflation to decline E) the AS curve shifts up, causing both output and inflation to rise
The demand curve facing a monopolist will be more elastic
A) the greater is the number of substitute products. B) as the consumers' need for the good increases. C) the greater is the amount of fixed costs to cover. D) as the number of consumers increases.
If demand is more elastic, the portion of an excise tax borne by a buyer will
a. increase. b. decrease. c. be unchanged. d. increase for normal goods, decrease for inferior goods.
Which of the following will reduce the effectiveness of centralized economic planning?
A) The central planners spending the funds of taxpayers will make poorer investment choices than investors spending their own money. B) The central planners will be unable to obtain sufficient information for a sound economic plan in a world of dynamic change. C) All of the above. D) The choices of the central planners will be influenced by political, rather than economic, considerations.