The conduct of monetary policy is the responsibility of:
a. commercial banks.
b. the U.S. Treasury.
c. the Federal Reserve System.
d. the Congress and the president.
c
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Which of the following will cause an increase market supply?
A. An increase in the price of the good. B. An increase in demand for the good. C. A technological innovation that lowers the marginal cost of producing the good. D. A decrease in the number of firms in the market.
Advertising claiming superior quality of a product makes its demand
a. More elastic b. Less elastic c. Perfectly elastic d. None of the above
The infant industry argument for protectionism is to block imports ______________ to give the infant industry time to mature before it starts competing on equal terms in the global economy.
a. for a limited time b. for a long time c. permanently d. never
What does macroeconomic theory predict as the main economic effect of a reduction in the budget deficit?
A. Lower real interest rates B. A drop in the exchange rate C. An increase in net exports D. All of these responses are correct.