The monetary base is the sum of
A) coins, Federal Reserve notes, and banks' reserves at the Fed.
B) Federal Reserve notes, Treasury deposits at the Fed, banks' reserves at the Fed, and coins.
C) coins, Federal Reserve notes, and individuals' deposits at the Fed.
D) coins, Federal Reserve notes, and gold at the Fed.
E) Federal Reserve notes and banks' reserves at the Fed.
A
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Refer to Figure 15-14. In the figure above, suppose the economy in Year 1 is at point A and is expected in Year 2 to be at point B. Which of the following policies could the Federal Reserve use to move the economy to point C?
A) increase the required-reserve ratio B) sell Treasury bills C) decrease income taxes D) buy Treasury bills
Refer to Table 17.2. The marginal product of the seventh unit of labor is:
A. 50. B. 40. C. 30. D. 10.
A cartel is
A) a temporary storage facility for automobiles. B) a group of firms that enter into an informal agreement to fix prices to maximize joint profits. C) a group of firms that enter into a formal agreement to fix prices to maximize joint profits. D) an example of a group of firms that collectively regulate a competitive industry.
One of the most important forms of capital income is
A. rent. B. profits. C. depreciation. D. wages.