Savings accounts are also known as
a. M3 money
b. time deposits
c. demand deposits
d. money market deposit accounts
e. noninterest bearing M1 money
B
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Wage differentials between occupations can be explained by all of the following except
A) the relative differences between demand and supply in various occupations B) the fact that some occupations are more desirable than others. C) the market power of different employers. D) the fact that some occupations require higher levels of human capital than others.
Given that real interest rates are constant, an increase in the expected rate of inflation will tend to
A) decrease the nominal rate of interest. B) increase the nominal rate of interest. C) cause lower inflation rates. D) cause no change in the nominal rate of interest.
“A producer wanting to employ optimal quantity of inputs should choose the point where diminishing returns set in.” True or false?
What will be an ideal response?
Industry demand is given by: QD = 1000 – P
All firms in the industry have identical and constant marginal and average costs of $50/unit. a. If the industry is perfectly competitive, what will industry output be? What will be the equilibrium price? What profit will each firm earn? b. Now suppose that there are five firms in the industry, and that they collude to set price. What price will they set? What will be the output of each firm? What will be the profit of each firm?