The original intention of the Fed's role as lender of last resort was to make loans to banks that were
A) not illiquid nor insolvent.
B) illiquid, but not insolvent.
C) insolvent, but not illiquid.
D) both illiquid and insolvent.
B
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The MRTS for isoquants in a fixed-proportion production function is:
A) zero or one. B) always zero. C) always one. D) zero or undefined.
The slope of the consumption function can be determined by dividing the change in
a. real consumption spending by the change in real disposable income b. nominal spending by the change in nominal disposable income c. real disposable income by the change in real consumption spending d. nominal disposable income by the change in nominal consumption spending e. total consumption spending by the change in autonomous consumption spending
For each of the following pairs of products, state which are complements, which are substitutes, and which are unrelated
a. Blu-ray discs and video-on-demand b. Fiat 500 and Mini Cooper S c. Toothpaste and toothbrush d. Popcorn and snowboards e. Razors and razor blades
Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting downward C. Aggregate demand shifting rightward D. Aggregate demand shifting leftward