In response to the looming credit crisis of 2008, the FDIC
A. advertised nationally that they would stand behind the banks to assure depositors.
B. borrowed a large amount of money from the Treasury to buy insolvent banks.
C. temporarily increased the amount covered for each depositor to $250,000.
D. sold bonds to cover their immediate needs.
C. temporarily increased the amount covered for each depositor to $250,000.
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Sadie works at a factory for $15 an hour and typically works 40 hours a week. Sadie gets a pay raise and now earns $20 an hour. She decides to work 45 hours a week at $20 an hour. Her response to the pay increase demonstrates the:
A. income effect outweighing the price effect. B. price effect outweighing the income effect. C. income effect outweighing the substitution effect. D. labor effect outweighing the price effect.
In utilizing unconventional monetary policy in 2009, the Federal Reserve purchased
a. real estate worth more than $2 trillion. b. $800 billion in Treasury bills. c. over $1 trillion in mortgage backed securities. d. $600 billion in long-term Treasury bonds.
Suppose a firm pollutes a river when it produces a product. To achieve the efficient amount of output, a government could impose a ________ that equals the ________ of the pollution
A) pollution charge; marginal social cost B) pollution charge; marginal external cost C) pollution tax; marginal social cost D) pollution tax; marginal external cost E) pollution subsidy; marginal social cost
If the United States negotiates a voluntary export restraint with international sugar producing nations, then
A) U.S. sugar buyers pay a lower price for sugar. B) U.S. sugar producers produce a smaller quantity. C) imports of sugar increase. D) the U.S. government collects less revenue than if it imposed a tariff on sugar. E) the foreign governments collect more revenue than if a tariff is imposed on sugar.