What is the present value of $1,000 one year from now at an interest rate of 5%?

Economies with higher expected inflation rates have short-run Phillips curves that are

A) further to the right. B) upward sloping. C) further to the left. D) closer to being horizontal. E) always vertical.

Which of the following is not an accurate statement about money market accounts?

(A) They pay a higher rate of interest than savings accounts. (B) They can be used for writing checks. (C) They offer a fixed interest rate. (D) They can be used for saving.