The Federal Reserve uses dynamic open market operations to
A) alter the money multiplier.
B) alter the growth path of bank reserves.
C) inject reserves temporarily into the system.
D) take reserves temporarily from the system.
B
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During the summer months, many families go hiking, camping, and fishing at national parks. This is an example of
A. aggregate demand for the outdoors. B. the incentive to work hard, play hard. C. underground economic activity. D. the implicit value of leisure time.
During the 1990s, Canada had an average inflation rate of 1.5 percent while Columbia had an average inflation rate of 21.5 percent. You would expect that nominal interest rates in Canada are
A) unpredictably different from nominal interest rates in Columbia. B) greater than nominal interest rates in Columbia. C) less than nominal interest rates in Columbia. D) not comparable to nominal interest rates in Columbia. E) equal to nominal interest rates in Columbia.
Natural monopolies in the United States are generally regulated by
A) the Department of Commerce. B) the Federal Trade Commission. C) local or state regulatory commissions. D) the Department of Justice.
The idea behind comparative advantage reflects the possibility that one party a. may be able to produce something relatively more efficiently than another. b. may be able to produce something at a lower opportunity cost than another. c. may be able to produce something more cheaply than another
d. all of the above