A theory is an explanation of the causal mechanism behind observed phenomena.
Answer the following statement true (T) or false (F)
True
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Firms do not change prices frequently because:
A. it is costly to do so. B. customers will refuse to patronize firms that change prices frequently. C. it is easier to change the quantity of capital used in production. D. there are legal prohibitions against doing so.
Suppose, at a given federal funds rate, there is an excess demand for reserves in the federal funds market
If the Fed wants the federal funds rate to stay at that level, then it should undertake an open market ________ of bonds, everything else held constant. If the Fed does nothing, however, the federal funds rate will ________. A) sale; increase B) purchase; increase C) sale; decrease D) purchase; decrease
Part of the effect of higher interest rates on residential construction is through
A) inflationary expectations. B) credit rationing. C) the expected value of the homes to the buyers. D) the income effect.
Which type of audit features the task of interviewing employees?
a. financial statement audit b. salary audit c. operational audit d. compliance audit e. integrated audit