Which of the following statements is false?
A) Another term for a Treasury bill is a T-bill.
B) Treasury notes mature in 2 to 10 years.
C) Treasury bonds are considered very safe investments, but Treasury bills are considered to be a more risky investment.
D) It is unlikely the federal government will default on its bond obligations.
C
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An editorial in a newspaper calling for the government to abolish the minimum wage because it takes advantage of consumers is an example of a(n)
a. positive economic statement. b. pure economic statement. c. normative economic statement. d. abstract economic statement.
Consumer surplus:
A. does not exist in equilibrium. B. is illustrated by the area under the demand curve and above the market price. C. is illustrated by the area under the demand curve and below the market price. D. is illustrated by the area above the supply curve and under the demand curve.