Which of the following policies could the Fed use to lower the interest rate?
A. a tax cut
B. selling government securities
C. raising the discount rate
D. reducing the required reserve ratio
Answer: D
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In the above figure, a black market emerges with a
A) price ceiling of $4. B) price floor of $2. C) price floor of $4. D) a rationed quantity 30.
Suppose that Richard has just told you that he would not pay more than $100 dollars for one of his favorite baseball cards. You offer to give him $110 dollars for his card and he refuses. What consumer choice theory or effect explains this result?
A) the endowment effect B) bounded rationality C) bounded self-interest D) bounded will power
Refer to Table 4-13. The equations above describe the demand and supply for Aunt Maud's Premium Hand Lotion. The equilibrium price and quantity for Aunt Maud's lotion are $20 and 30 thousand units
What is the value of economic surplus in this market? A) $600 thousand B) $1,050 thousand C) $1,500 thousand D) $2,100 thousand
Which of the following statements is correct?
A) assets plus liabilities equal net worth B) assets plus net worth equal liabilities C) assets equal liabilities plus net worth D) liabilities minus net worth equal assets