When banks borrow money from the Federal Reserve, these funds are called
A) federal funds.
B) discount loans.
C) federal loans.
D) Treasury funds.
B
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We know that the firm shown in the figure above is a natural monopoly because as output increases, the
A) marginal cost is constant. B) demand curve slopes downward. C) marginal revenue curve lies below its demand curve. D) average total cost decreases so that the firm can supply the market at lower cost than two firms.
The designate M1 measure of money consists of
A) the most liquid types of money in the U.S. system. B) small time deposits only. C) credit cards and ATM cards. D) gold and gold coins.
An economy has two workers, Jen and Rich. Every day they work, Jen can produce 2 TVs or 10 radios, and Rich can produce 4 TVs or 12 radios. To maximize total output, Jen should specialize in producing ________ while Rich should specialize in producing ________.
A. TVs; radios B. radios; TVs C. TVs; TVs D. radios; both goods
Which of the following is true about optimal search?
a. Optimal search occurs where the marginal benefit of search just equals the marginal cost of search, where the two curves intersect. b. Optimal search occurs when the total benefit of search exceeds the total cost of search. c. Optimal search occurs where the marginal benefit of search is equal to zero. d. Optimal search occurs when the marginal cost of search exceeds the marginal benefit of search.