The primary purpose of the discount window is to
A. fulfill the bank's lender of last resort role.
B. influence the amount of loans that banks provide to the public.
C. control banks' excess reserves.
D. influence the nation's money supply.
Answer: A
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Perfectly competitive industries tend to produce low-priced, low-technology products
Indicate whether the statement is true or false
A tax that is imposed on an imported good is called a
A) tariff. B) quota. C) government license. D) patent.
Productive efficiency refers to long-run market conditions where marginal cost is equal to marginal revenue.
Answer the following statement true (T) or false (F)
If the price of one good increases, and as a result the demand for another related good falls, the goods are
A) substitutes. B) normal goods. C) complements. D) inferior goods.