Assume that any given percentage of the population earns an equal percentage of real GDP. This percentage of population will be represented by:
a. a point below the line of income equality.
b. a line lying below the line of income equality.
c. a point on the line of income equality.
d. a line lying above the line of income equality.
e. a point above the line of income equality.
c
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Which of the following interest rates will be least affected by a shift in monetary policy that alters the money supply?
a. a three-month certificate of deposit b. interest on checking accounts c. a one-year bank loan d. a thirty-year home mortgage
Which of the following statements is most correct?
A. Financial instruments are created to transfer risks that are relatively easy to predict. B. When a risk is difficult to predict, financial instruments are created to transfer these risks. C. Financial instruments require certainty of an event to be able to transfer risk. D. Financial instruments eliminate the risk from uncertainty, they do not transfer it.