The one disadvantage of paper money is that it is easier to
A. duplicate and counterfeit.
B. carry.
C. divide.
D. store and use at a later time.
Answer: A
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The percentage return on a loan expressed in terms of goods and services is the
A) real wage rate. B) CPI interest rate. C) real interest rate. D) nominal wage rate. E) nominal interest rate.
Suppose a firm receives $975 for a discount bond with a face value of $1000 to be repaid in one year. What is the amount of interest on the bond? What is the interest rate on the bond? Report a percentage with two decimal places
What will be an ideal response?
Which of the following is true for both perfect and monopolistic competition?
A) Firms produce a differentiated product. B) Firms face a downward sloping demand curve. C) Firms produce a homogeneous product. D) There is freedom of entry and exit in the long run.
In the short run, perfectly competitive firms ________ but in the long run, perfectly competitive firms ________
A) can incur an economic loss; incur an economic loss B) can incur economic losses; make an economic profit C) must make an economic profit; make an economic profit D) can incur an economic loss; make zero economic profit