Which group is responsible for the policy decision of changing the money supply?
A. Federal Open Market Committee
B. Federal Advisory Council
C. Office of Management and Budget
D. Thrift Advisory Council
Answer: A
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The table above lists six points on the production possibilities frontier for grain and cars. What is the opportunity cost of producing the 5th ton of grain?
A) 16 cars per ton of grain B) 6 cars per ton of grain C) 3 cars per ton of grain D) 2 cars per ton of grain
Suppose an import-competing firm is imperfectly competitive. Replacement of an export tariff with an import quota that yields the same level of imports will ________ market price, ________ producer surplus, ________ consumer surplus, ________
government revenue, and ________ overall domestic national welfare. A) increase; increase; decrease; decrease; decrease B) have no effect on; have no effect on; have no effect on; decrease; decrease C) increase; have no effect on; decrease; decrease; increase D) increase; increase; increase; decrease; have an ambiguous effect on E) decrease; decrease; increase; decrease; increase
International reserves are
a. foreign exchange held by governments only b. foreign exchange held by central banks only c. foreign exchange held by governments or central banks d. gold only e. various internationally acceptable assets
When a country adds more capital to its existing stock:
A. the additional productivity is less than the previous increases to productivity. B. the additional productivity is more than the previous increases to productivity. C. it experiences rapidly increasing rates of growth. D. it experiences rapid declines in its level of income.