Based on the graph showing the effective federal funds rate, once interest rates bottomed out after the 2001 recession, they ______.
a. levelled off for several years
b. began an upward trend that is still ongoing
c. increased consistently for several years
d. went up slightly one year then dropped rapidly
c. increased consistently for several years
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Refer to Figure 5.1. All else equal, an increase in the number of workers will cause a
A) shift from PF1 to PF2. B) shift from PF2 to PF1. C) movement up and to the right along PF1. D) movement down and to the left along PF2.
The monopolist's demand curve is:
A. identical to the market demand curve. B. identical to the marginal revenue curve. C. below the marginal revenue curve. D. a horizontal line at the market price.
Which of the following is included in gross private domestic investment?I.The purchase of new capital goodsII.An increase in business inventories
A. I only B. II only C. Both I and II D. Neither I nor II
The optimal level of crime control is achieved where
A. the police officers' association is satisfied. B. the marginal reduction in the expected cost of crime equals the marginal cost of prevention. C. the total reduction in the expected cost of crime equals the total cost of prevention. D. the average reduction in the expected cost of crime equals the average cost of prevention.