Which of the following questions is of most interest for MACROECONOMISTS?
A) Why is there inflation?
B) Why does the steel industry want tariffs?
C) What is the appropriate stance of antitrust policy?
D) Why do foreigners immigrate to the United States?
A
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If there is a change in the federal funds rate from a target rate due to a decrease in the demand for reserves, the Fed can maintain the target by:
A) causing an upward movement along the supply of reserves curve. B) causing the supply curve of reserves to shift to the left. C) causing a downward movement along the supply of reserves curve. D) causing the supply curve of reserves to shift to the right.
The Federal Open Market Committee consists of the
A) Federal Reserve chairman and the other six members of the Board of Governors. B) Federal Reserve branch bank presidents. C) Federal Reserve chairman and the Federal Reserve branch bank presidents. D) Federal Reserve chairman, the other six members of the Board of Governors, and five of the Federal Reserve branch bank presidents.
In wealthy countries such as the United States, the price elasticity of the demand for food is ________ it is in poorer countries.
A. greater than B. less than C. the same as D. None of these; it is not possible to make international comparisons of price elasticity.
If inflation is higher in the home market, what is expected to happen to the real value of the home currency as time passes?
What will be an ideal response?