Demand deposits are termed so because:
A) depositors can withdraw money from such deposits at any point of time.
B) there are no limitations on the amount of money that can be deposited into such accounts.
C) depositors can demand any rate of interest on such deposits.
D) most consumers want to open such accounts as they are greatly in demand.
A
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Joe quits his job as an insurance agent and opens his own sporting goods store. If his profits as measured by his accountant are greater than zero, then
A) he made a good move because he is earning above normal profits. B) his economic profit must be greater than zero. C) his opportunity costs must be zero. D) There is not enough information to determine his economic profit, if any.
Which of the following statements provides the most accurate description of the employment growth rate in various sectors of the economy between 1860-1910?
a. All major sectors grew with the exception of agriculture and construction. b. All major sectors grew, and agriculture grew the most. c. The manufacturing sector grew the most, followed by railroads, but agricultural employment decreased. d. All major sectors grew, and railroads grew the most.
GDP is used in the __________ to __________
a. long run; alert us to recessions b. short run; alert us to recessions c. long run; gauge the success of monetary policy d. short run; measure changes in the standard of living e. short run; check for inflation
If interest rates rise in the U.S., then other things the same
a. foreigners would buy more U.S. bonds which increases the quantity of loanable funds demanded in the U.S. b. foreigners would buy more U.S. bonds which reduces the quantity of loanable funds demanded in the U.S. c. foreigners would buy fewer U.S. bonds which increases the quantity of loanable funds demanded in the U.S. d. foreigners would buy fewer U.S. bonds which reduces the quantity of loanable funds demanded in the U.S.