The Board of Governors of the Federal Reserve System can increase commercial bank reserves by:
a. Increasing the reserve ratio
b. Buying government securities in the open market
c. Decreasing the prime interest rate
d. Increasing the discount rate
b. Buying government securities in the open market
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An assumption used in the quantity theory of money is that
A) velocity is constant. B) the money supply is constant. C) nominal Gross Domestic Product (GDP) is constant. D) the price level is constant.
Mark can produce 24 footballs or 48 basketballs in 8 hours. Maria can produce 64 basketballs in 8 hours. In order for Maria to have a comparative advantage producing basketballs, the number of footballs she can produce in 8 hours has to be less than _____
Fill in the blank(s) with correct word
The increasing cost in the law of increasing cost is a(n) ____________ cost.
A. average B. fixed C. opportunity D. declining
On the surface, Usury laws are designed to protect consumers from exorbitant interest rates.
Answer the following statement true (T) or false (F)