The discount rate is the interest rate
A) banks pay on certificates of deposit.
B) the Fed pays on reserves held by banks.
C) the Fed charges when it lends reserves to banks.
D) banks charge their loan customers.
E) on short-term Treasury securities.
C
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In economics, the term technology refers to different ways of combining resources to produce output. In this sense, technological advances make possible the production of more output from a given amount of resources
a. True b. False Indicate whether the statement is true or false
"Tariffs are necessary for reasons of national security." Discuss the validity of this statement
In competitive markets,
a. firms produce identical products. b. no individual buyer can influence the market price. c. no individual seller can influence the market price. d. All of the above are correct.
A firm uses workers, land, and machinery for its production process. Which of the following statements is then true?
A) The only way the firm can change its output level in the long run is by changing the number of workers. B) The only way the firm can change its output level in the long run is by changing the amount of land it owns. C) The only way the firm can change its output level in the long run is by changing the amount of machinery. D) The firm can change its output level in the long run by changing any or all of its three inputs.