The federal funds interest rate
a. can be raised or lowered by the Federal Reserve to regulate the volume of loans to banks.
b. is administered by the Open Market Committee.
c. increases when the fed conducts open market purchases.
d. is set by Congress.
e. none of the above.
E
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In the expanded circular flow diagram, the government supplies
A) factors of production to the factor market. B) goods and services to households. C) factors of production to firms. D) goods and services to the product market.
The above figure shows Larry's indifference map and budget lines for ham and pork. Which of the following statements is TRUE?
A) Pork is an inferior good. B) Ham is an inferior good. C) Neither pork nor ham is an inferior good. D) Both ham and pork are inferior goods.
Total producer surplus is measured by the total area under the equilibrium price and below the supply curve
a. True b. False Indicate whether the statement is true or false
Rising unemployment and decreased business confidence could be signs that the economy is at the start of a(n):
A. recession. B. boom. C. recovery. D. expansion.