The Fed has which of the following as its strongest control over the money supply?
a. interest rate changes
b. the discount rate
c. open market operations
d. the required reserve rate
c
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The Employment Act of 1946
a. implies that the government should avoid being a cause of economic fluctuations. b. implies that the government should respond to changes in the private economy to stabilize aggregate demand. c. reflected the ideas promoted in Keynes's influential book, The General Theory of Employment, Interest, and Money. d. All of the above are correct
Suppose demand increases and supply decreases. Which of the following will happen?
a. The change in equilibrium price and quantity cannot be determined. b. Equilibrium price will rise, fall, or stay the same while equilibrium quantity will increase. c. Equilibrium price will rise, fall, or stay the same while equilibrium quantity will decrease. d. Equilibrium quantity will rise, fall, or stay the same while equilibrium price will decrease. e. Equilibrium quantity will rise, fall, or stay the same and equilibrium price will increase.
A firm uses 10 acres of land and pays $2,000 rent for each acre. If the 10th acre has an MRP of $3,000, then the firm is using ________ acres of land.
Fill in the blank(s) with the appropriate word(s).
The figure below shows the market for shoes in a small importing country. Dd and Sd are the domestic demand and supply curves of shoes, respectively.
The imposition of a tariff on shoes caused economic well-being in the country to ________ by an amount measured by the area
A. rise; (a + c). B. rise; (b + c+ d). C. fall; c. D. fall; (b + d).