The monetary base declines when
A) the Fed extends discount loans.
B) Treasury deposits at the Fed decrease.
C) float increases.
D) the Fed sells securities.
D
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How did laborers benefit from World War I (1914–18)?
(a) Their nominal take-home pay rose more than prices increased. (b) They were placed in military jobs that paid wages higher than private sector jobs. (c) High-paying jobs in the private sector were created to support the war effort. (d) Real GNP and national income fell during and shortly after the war.
Points that lie outside (or beyond) the PPF are
A) attainable. B) unattainable. C) efficient. D) inefficient.
National debt is the result of previous budget deficits.
Answer the following statement true (T) or false (F)
Refer to the given data. With free trade, that is, assuming no tariff, the outputs produced by domestic and foreign producers respectively would be:
Answer the question on the basis of the following domestic supply and demand schedules for a product. Suppose that the world price of the product is $1.
A. 1 unit and 15 units.
B. 4 units and 7 units.
C. 7 units and 0 units.
D. 4 units and 6 units.