Joe's income is $500, the price of food (F) is $2 per unit, and the price of shelter (S) is $100. Which of the following represents his budget constraint?
A) 500 = 100F + 2S
B) 500 = 2F + 100S
C) S = 500 - 2F
D) All of the above.
B
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Which of the following groups within the Federal Reserve System is primarily concerned with open market operations?
A) The Federal Open Market Committee B) The Federal Advisory Council C) The Federal Reserve Bank presidents D) The Board of Governors
A diagram is a good example of a(n)
a. hypothesis. b. abstraction. c. theory. d. concept. e. instrumentation.
If the Fed fears an economic downturn, it would be most likely to
a. encourage banks to provide loans by lowering the discount rate. b. encourage banks to provide loans by raising the discount rate. c. restrict bank lending by lowering the discount rate. d. restrict bank lending by raising the discount rate. e. restrict bank lending by lowering the federal funds rate.
The goal of expansionary fiscal policy is to:
A. increase the money supply. B. cool off the economy. C. reduce interest rates. D. stimulate the economy.