What is the most widely followed short-term interest rate?
A. the government bond rate
B. the commercial paper rate
C. the three-month Treasury bill rate
D. the federal funds rate
Answer: C
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The production possibilities curve depicts the various combinations of two goods that can be:
a. interchanged among two countries. b. produced with a given technology. c. consumed with a given quantity of resources. d. produced with increments in resources and changes in technology. e. consumed as the resources increase.
The demand for money will increase when either the price level or real GDP increases
a. True b. False Indicate whether the statement is true or false
When a perfectly competitive firm increases output, total revenue:
A. decreases, because there is no price effect. B. increases, because there is no quantity effect. C. decreases, because there is no quantity effect. D. increases, because there is no price effect.
Answer the following statement(s) true (T) or false (F)
1. In a planned economy, an individual's personal income dictates his or her spending choices. 2. Although the United States comes close to being a capitalist economy, it is considered a mixed economy because there is some government intervention. 3. Business managers do not need to be aware of the decisions of collective businesses outside their own industry. 4. The value of currency is based on an underlying commodity. 5. The price of a product or service is based entirely on its actual value.