In 2008, the Fed utilized expansionary monetary policy which was made
a. more effective as banks held more excess reserves.
b. less effective as banks held more excess reserves.
c. more effective as banks held less excess reserves.
d. less effective as banks held less excess reserves.
b
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A market
a. is often a physical place b. facilitates exchanges between buyers and sellers c. typically involves monetary transactions d. might not have well-defined geographical limits e. all of the above
The idea behind clustering is that each part of a network is ___________ productive operating in isolation, so if governments can push each element of the cluster in unison, they should realize ___________ in productivity.
A. far more; huge gains B. far less; huge losses C. far less; huge gains D. far more; huge losses
An example of moral hazard is
a. A taxi driver paid per mile taking a longer route than necessary b. a piece-rate garment worker shirking more than a per hour worker c. an hourly salesman working harder than a commission salesman d. an author on contract going to as many book signings as one with a percentage royalty rate
The Federal Reserve is considered by experts to be a government agency that is
A) totally independent from the rest of the federal government. B) semi-independent from the rest of the federal government. C) closely tied to Congress. D) subservient to the interests of large money-center banks.