Open-market operations change:
A. the size of the monetary multiplier but not commercial bank reserves.
B. commercial bank reserves but not the size of the monetary multiplier.
C. neither commercial bank reserves nor the size of the monetary multiplier.
D. both commercial bank reserves and the size of the monetary multiplier.
B. commercial bank reserves but not the size of the monetary multiplier.
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Provide a simple definition of the price elasticity of demand and explain why knowing the price elasticity for her product is useful to the firm's manager
What will be an ideal response?
Perfect competition requires that three conditions be satisfied.
Answer the following statement true (T) or false (F)
Other things being equal, the effects of an increase in the price of crackers on the market for soup is represented by a(n):
a. downward movement along the demand curve for soup. b. upward movement along the demand curve for soup. c. rightward shift in the demand curve for soup. d. leftward shift in the demand curve for soup.
According to the new growth theory
A. technology is a natural by-product of invention. B. technology should be considered as a factor of production. C. technology provides few rewards to the society. D. technology plays a minor role in economic development.