Which of the following represents an action by the Federal Reserve that is designed to decrease the money supply?
A. an increase in the required reserve ratio
B. an increase in federal spending
C. a decrease in the discount rate
D. buying government securities in the open market
Answer: A
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Marginal utility is measured by the maximum amount of money a consumer is willing to pay for one more unit of a commodity.
Answer the following statement true (T) or false (F)
Since the 1970s, the velocity of money has
a. behaved in a predictable fashion. b. behaved in an erratic fashion. c. decreased in value. d. increased in a stable and predictable fashion.
Which of the following inputs is normally considered to be variable in the short run?
A) labor B) capital C) money D) time
Game theory is just as necessary for understanding competitive or monopoly markets as it is for understanding oligopolistic markets
a. True b. False Indicate whether the statement is true or false