Open-market operations refer to:
A. purchases of stocks in the New York Stock Exchange.
B. the purchase or sale of government securities by the Fed.
C. central bank lending to commercial banks.
D. the specifying of loan maximums on stock purchases.
B. the purchase or sale of government securities by the Fed.
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Refer to Table 17-4. What are the price and quantity of workers that result in the maximum amount of revenue Apple would earn from selling iPods?
A) $120; 4 B) $120; 2 C) $180; 1 D) $140; 2
If American and Japanese consumers buy the same basket of goods in each country and there is no inflation in either country,
A) the law of one price will hold. B) deviations from PPP will occur. C) PPP will hold. D) Both A and C.
Third-party payments by either the government or an insurance company accounted for ____ of the 2011 healthcare expenditures, compared to ____ paid by third parties in 1960
a. 40 percent; 20 percent b. 20 percent; 40 percent c. 86 percent; 45 percent d. 96 percent; 73 percent
When a consumer experiences a price increase for an inferior good, if the income effect is
a. greater than the substitution effect, the demand curve will be downward sloping. b. greater than the substitution effect, the demand curve will be upward sloping. c. less than the substitution effect, the demand curve will be upward sloping. d. less than the substitution effect but the substitution effect is positive, the demand curve will be upward sloping.