The clearing corporation associated with the Chicago Board of Trade consists of
A) government regulatory bodies.
B) major commercial banks.
C) members of the exchange.
D) major corporations.
C
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In the above figure, suppose the economy is initially on the demand for money curve MD1. What is the effect of an increase in real GDP?
A) The demand for money curve would shift rightward to MD2. B) The demand for money curve would shift leftward to MD0. C) There would be a movement upward along the demand for money curve MD1. D) There would be a movement downward along the demand for money curve MD1.
The opportunity cost of an activity is best measured
a. only by the monetary costs b. by the number of alternative activities that were forgone c. by the cost difference between the chosen activity and the next best alternative d. by the value expected from the best alternative that is forgone e. as the time wasted choosing among various activities
Which of the following best explains why garbage collectors are paid a higher wage than many others with comparable skills?
a. because of the dangers associated with collecting trash b. because garbage collectors work much longer hours on average than do those in other jobs c. because of the unpleasantness associated with trash collection d. because garbage collectors possess skills that are in relatively high demand
The cost of holding money balances increases when
a. the inflation rate decreases. b. the nominal interest rate increases. c. the nominal interest rate decreases. d. nominal GDP is far from full employment.