A business organization that employs resources to produce goods and services for profit is
A) economic rent.
B) a firm.
C) inside information.
D) the opportunity cost of capital.
Answer: B
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The output gap is the
A) difference in graduation levels between high school and college. B) difference between actual inflation and core inflation. C) percentage deviation of real GDP from potential GDP. D) percentage increase in the growth rate of real GDP. E) percentage increase in the growth rate of real GDP minus the unemployment rate.
In order for the banking system to expand the money supply with a money multiplier effect, all of the money loaned out
a. has to have been demand deposits at some bank b. has to stay in one bank c. by one bank has to be deposited in the same bank d. has to be repaid before the multiplier process can work e. has to equal the amount of legal reserves for the banking system
Which of the following interest rates will be least affected by a shift in monetary policy that alters the money supply?
a. a three-month certificate of deposit b. interest on checking accounts c. a one-year bank loan d. a thirty-year home mortgage
Antitrust laws in general are used to
a. prevent oligopolists from acting in ways that make markets less competitive. b. encourage oligopolists to pursue cooperative-interest at the expense of self-interest. c. encourage frivolous lawsuits among competitive firms. d. encourage all firms to cut production levels and cut prices.