For all practical purposes, a nation's monetary base is controlled by:
a. The government, financial institutions, and the central bank.
b. The central bank.
c. The International Monetary Fund and World Bank.
d. Individuals and financial institutions, by means of their preferred asset ratios, and the central bank.
e. No one because the monetary base is a free market quantity that is determined, like many macroeconomics variables, by the forces of supply and demand.
.B
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What is the basis of the "Cheap Foreign Labor" argument and what are its weaknesses?
What will be an ideal response?
Refer to Table 20-16. Looking at the table above, real wages ________ from 2014 to 2015, and real wages ________ from 2015 to 2016
A) rose; fell B) fell; fell C) fell; rose D) rose; rose
Suppose researchers at the University of Wisconsin discover a new vitamin that increases the milk production of dairy cows. If the demand for milk is relatively inelastic, the discovery will
a. raise both price and total revenues. b. lower both price and total revenues. c. raise price and lower total revenues. d. lower price and raise total revenues.
During the 1960s, U.S. steel firms argued they needed tariff protection because Germany and Japan were using new mills to make steel since their old mills were destroyed in World War II. Essentially, this argument is a form of the
A) infant-industry argument. B) anti-dumping argument. C) countering foreign subsidies argument. D) national defense argument.