A line that rises at a 45 degree angle has a slope of
a. 0.45.
b. 1.
c. 45.
d. 1/45.
b
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A open market purchase of government securities by the Fed will cause which of the following?
A) an increase in the equilibrium quantity of reserves B) a reduction in the federal funds rate C) an increase in the amount of excess reserves that banks will wish to hold D) all of the above
The income distribution in the United States is
A) positively skewed. B) negatively skewed. C) bell-shaped D) uniform.
If prices rise in Japan, everything else constant, the dollar __________ against the yen and the yen __________ against the dollar
A) appreciates; appreciates B) appreciates; depreciates C) depreciates; appreciates D) depreciates; depreciates
If a market is such that, at the market equilibrium quantity, the benefit of the last unit produced just equals its marginal cost
a. it has earned a positive economic profit b. it has achieved productive efficiency c. it has achieved allocative efficiency d. it has achieved economies of scale e. there are further trades than can increase producer surplus