The Federal Open Market Committee includes:
A. the Board of Governors.
B. the Secretary of State.
C. all regional bank presidents.
D. the Chairman of the Treasury.
Answer: A
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Which of the following four-firm concentration ratios would be the best indication of a perfectly competitive industry?
A) 2 percent B) 31 percent C) 78 percent D) 100 percent E) 50 percent
If a country's currency ________ the dollar, its exchange rate is fixed
A) is exchanged in currency markets for B) has a floating exchange rate value which is equal to C) depreciates against D) is pegged to
Refer to the above figure. This firm is operating in the
A) long run since economic profits are greater than zero. B) long run since economic profits are less than zero. C) short run since economic profits are greater than zero. D) short run since economic profits are less than zero.
The Fed decreases money supply. In this case, the time lag problem of monetary policy may
A. decrease the velocity of money in the short run. B. increase the velocity of money in the short run. C. increase real GDP in the short run. D. none of the above