Which of the following is most frequently used when the Fed is attempting to adjust the money supply?
a. Changing reserve requirements
b. Open market operations
c. Changing the discount rate
d. Moral suasion
b
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Refer to Figure 12-18. Use the figure above to answer the following questions
a. How can you determine that the figure represents a graph of a perfectly competitive firm? Be specific; indicate which curve gives you the information and how you use this information to arrive at your conclusion. b. What is the market price? c. What is the profit-maximizing output? d. What is total revenue at the profit-maximizing output? e. What is the total cost at the profit-maximizing output? f. What is the profit or loss at the profit-maximizing output? g. What is the firm's total fixed cost? h. What is the total variable cost? i. Identify the firm's short-run supply curve. j. Is the industry in a long-run equilibrium? k. If it is not in long-run equilibrium, what will happen in this industry to restore long-run equilibrium? l. In long-run equilibrium, what is the firm's profit maximizing quantity?
When there is multicollinearity in an estimated regression equation,
a. the coefficients are likely to be small. b. the t-statistics are likely to be small even though the R2 is large. c. the coefficient of determination is likely to be small. d. the problem of omitted variables is likely. e. the error terms will tend to have a cyclical pattern.
If the price rises and the total amount consumers spend on the good falls, then demand must be
A. perfectly inelastic. B. elastic. C. perfectly elastic. D. inelastic.
Consider the Keynesian consumption function. If disposable income is greater than the break-even level of disposable income, then households will be:
A. investing. B. borrowing. C. dissaving. D. saving.