Open market operations refer to the purchase or sale of ________ by the Federal Reserve in order to influence the money supply
A) U.S. government bonds
B) corporate bonds and stocks
C) foreign currency
D) commodities
A
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When the price of a textbook is $95, the quantity of textbooks supplied is 90 million a year and when the price rises to $105, the quantity of textbooks supplied is 110 million a year. The supply of textbooks is
A) elastic. B) perfectly elastic. C) inelastic. D) perfectly inelastic. E) unit elastic.
The poverty rate in the United States has decreased by more than 50% over the last 40 years.
A. True B. False C. Uncertain
Price elasticity of supply is represented as ____________________.
a. monetary currency b. a percentage c. a fraction d. a ratio
Which statement is true?
A. The perfect competitor sets her price. B. Perfect competitors sell below market price to attract new customers. C. In the long run the perfect competitor produces at an output at which ATC is falling. D. The perfect competitor makes zero economic profit in the long run.