If the Federal Reserve conducts an open market sale, the
A) interest rate will decrease. B) interest rate will increase.
C) interest rate will not change. D) money supply is increased.
B
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If the price elasticity of demand for a product equals 1, as its price rises the
A) quantity demanded increases. B) total revenue increases. C) quantity demanded does not change. D) total revenue does not change.
Inflation tends to ________ during the expansion phase of the business cycle and ________ during the recession phase of the business cycle
A) decrease; decrease further B) increase; increase further C) increase; decrease D) decrease; increase
Suppose a great baseball player autographed only 50 baseball bats in his lifetime. If those bats are available for purchase online, the supply of the bats will be: a. perfectly elastic
b. highly elastic. c. perfectly inelastic. d. unit elastic.
Refer to the following model
yt= 
0+ 
0st+ 1st-1+ 2st-2+ 3st-3 + ut
This is an example of a(n):
A. infinite distributed lag model.
B. finite distributed lag model of order 1.
C. finite distributed lag model of order 2.
D. finite distributed lag model of order 3.