A key difference between small-denomination and large-denomination time deposits is that
A) small-denomination time deposits pay no interest.
B) large-denomination time deposits may be bought and sold on secondary markets.
C) large-denomination time deposits carry a significant penalty for early withdrawal.
D) small-denomination time deposits carry a significant penalty for early withdrawal.
B
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Firms in monopolistic competition have rivals that
A) match their price increases. B) match their price decreases. C) agree on a common price. D) set their prices according to the demand curves they face.
Assume that an employer discovers that the marginal revenue product of the last two workers that he has hired is less than the wage rate that he is paying them
He is operating in a purely competitive market in both the output that he sells and the labor that he hires. What would you advise this employer to do and why?
If you believe that velocity is constant and that the aggregate supply curve is horizontal, then the quantity theory of money would predict that a doubling of the money supply would cause a doubling of the
a. price level and real output. b. price level. c. price level and no change in real output. d. real output.
If total government tax collections equal $200 billion, transfer payments equal $75 billion, and government interest payments equal $10 billion, then net taxes equal:
A. $275 billion. B. $115 billion. C. $125 billion. D. $190 billion.