According to your text, economic theory developed to answer which question?
A) Why does man have the will to power?
B) Can we create a government strong enough to tie its own hands?
C) How are countless individuals led to do "the right thing" without ever caring about doing good?
D) Is greed good?
C
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If the Fed purchases $1 million in securities from the nonbank public, the monetary base will rise by $1 million
A) if the public holds the proceeds as currency. B) if the public deposits the proceeds as checkable deposits. C) if the public deposits the proceeds with the Treasury in a monetary base account. D) whether the public holds the proceeds as currency or deposits them as checkable deposits.
During the Clinton administration,
a. government savings rose significantly. b. total savings savings rose significantly. c. private savings rose because an increase in the tax rates on upper-income Americans and more government regulation d. both b and c.
If Bill is willing to pay $10 for one good X, $8 for a second, and $6 for a third, and the market price is $5, then Max's consumer surplus is:
a. $24 b. $18. c. $9 d. $6.
Which of the following was true of the actions of the Federal Reserve in response to the recession of 2008?
a. The Fed shifted toward a highly restrictive monetary policy in 2008, which was a major cause of the recession. b. The Fed continued to focus only on price stability and therefore it expanded the money supply at a slow and steady rate throughout the recession. c. The Fed introduced several new procedures for the conduct of monetary policy and it increased the monetary base rapidly as the recession worsened. d. The Fed continued to purchase and sell only U.S. Treasury bonds when conducting open market operations to control the money supply.