When the Fed buys or sells securities, it is conducting ________ operation
A) a deposit
B) a currency
C) a government debt
D) an open market
E) a money multiplier
D
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___________ unitary elasticity in either a supply or demand curve refers to a situation where a price change of one percent results in a quantity change of one percent.
a. Inconsistent b. Constant c. Locked d. Temporary
The ease with which an asset can be
a. traded for another asset determines whether or not that asset is a unit of account. b. transported from one place to another determines whether or not that asset could serve as fiat money. c. converted into a store of value determines the liquidity of that asset. d. converted into the economy's medium of exchange determines the liquidity of that asset.
In a market in which the government has set a price ceiling below the equilibrium price:
A. there will be excess supply. B. the quantity demanded will equal quantity supplied. C. a black market might develop. D. quantity supplied will exceed quantity demanded.
When output rises, unemployment
a) remains unchanged. b) falls. c) rises by a small amount. d) rises by a large amount.