In the bond market, the market equilibrium shows the market-clearing ________ and market-clearing ________
A) price; deposit
B) interest rate; deposit
C) price; interest rate
D) interest rate; premium
C
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Who is associated with the following summary of the economic way of thinking: "The theory of economics does not furnish a body of settled conclusions immediately acceptable to policy
It is a method rather than a doctrine, an apparatus of the mind, a technique of thinking which helps its processer draw correct conclusions." A) Adam Smith B) John Maynard Keynes C) President Harry Truman D) Alfred Marshall
A firm engaging in group price discrimination
A) divides customers into groups and then charges each customer within each group a different price, similar to perfect price discrimination. B) divides customers into groups and then charges each group a different price. C) bundles products into groups and sells the groups at different prices. D) finds the average reservation price for a group of customers and sell its goods at that price.
If the Irish pound declines in value against other major currencies, which of the following happens?
a. The Irish trade deficit will increase. b. The Irish trade deficit will be unaffected. c. The Irish trade deficit will decrease. d. Irish products will become more expensive to foreigners. e. Foreign goods will become cheaper in Ireland.
The money stock in the economy is a. the amount of wealth accumulating in the economy, such as currency and demand deposits
b. the amount of wealth accumulating in the economy, such as money market mutual funds and stocks. c. the quantity of money circulating in the economy, such as currency and demand deposits. d. the quantity of money circulating in the economy, such as money market mutual funds and stocks.