If the Fed were to increase the discount rate so that it was much higher than the federal funds rate, eventually
A) reserves would decrease and the money supply would decrease.
B) reserves would increase and the money supply would increase.
C) reserves would decrease and the money supply would increase.
D) reserves would increase and the money supply would decrease.
E) there is no impact on reserves or the money supply.
A
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Bus rides and canned soup are inferior goods, so the ________ elasticity of demand is ________
A) cross; positive B) income; positive C) income; negative D) cross; negative
Mitt Romney argued in a debate with President Obama that the economy had grown more slowly in each year of the President's term than in the year prior to Obama’s presidency. This claim is most related to the field of:
A. microeconomics. B. public policy. C. macroeconomics. D. financial economics.
A country can consume outside its production possibilities curve by trading.
Answer the following statement true (T) or false (F)
OPEC formed as a result of:
A. a desire to control the pricing on members' resources. B. political agitation against capitalism. C. the need to fix prices. D. the request of OECD.