Federal funds are
A) funds owned by the federal government.
B) funds owned by the Federal Reserve.
C) bank reserves that are lent overnight between banks.
D) bank reserves that are lent overnight by the Federal Reserve to banks.
C
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An example of moral hazard is
a. A taxi driver paid per mile taking the shortest route b. a piece-rate garment worker shirking more than a per jour worker c. an hourly salesman working less hard than a commission salesman d. an author on contract going to as many book signings as one with a percentage royalty rate
Which of the following will increase the demand for motorcycles?
A. A fall in the price of motorcycles. B. A fall in insurance rates for motorcycles. C. A fall in the price of automobiles. D. A fall in buyers' incomes (assuming motorcycles are a normal good).
What is the total variable cost when output is 100 units in Figure 21.2?
A. $296. B. $20,000. C. $9,600. D. $200.
The market system automatically corrects a surplus condition in a competitive market by:
A. Raising the price of the commodity in question while increasing the quantity demanded B. Raising the price of the commodity in question while decreasing the quantity demanded C. Reducing the price of the commodity in question while increasing the quantity demanded D. Reducing the price of the commodity in question while decreasing the quantity demanded