Which of the following describes what the Fed would do to pursue an expansionary monetary policy?
A) use discount policy to raise the discount rate
B) use open market operations to sell Treasury bills
C) raise the reserve requirement
D) use open market operations to buy Treasury bills
D
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Price elasticity of demand is the responsiveness of
A) the quantity demanded to a change in price. B) demand to a change in supply. C) demand to a change in income. D) demand for a good to a change in the demand for another good.
If a firm has not maximized its profit, it could be the case that
a. marginal cost is less than average total cost b. marginal cost is greater than average total cost c. marginal cost, average total cost, and marginal revenue all intersect at the same quantity d. marginal cost is higher than average variable cost e. the market price is higher than marginal cost
When collective decision making (the political process) is used to resolve economic questions regarding the allocation of resources,
What will be an ideal response?
A country's current account represents:
A. the amount one country owes to another country. B. the amount a country imports from the rest of the world. C. the net flow of goods and services between that country and the rest of the world. D. the net flow of all transactions between one country and another country.