The money supply curve is vertical if
A) banks and the Fed jointly determine the money supply.
B) the Fed is able to completely determine the money supply.
C) banks and households determine the money supply.
D) households and the Fed jointly determine the money supply.
Answer: B
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When compared with a perfectly competitive market with identical costs of production, a pure monopoly will produce ________.
A. more output and charge the same price B. less output and charge the same price C. less output and charge a higher price D. more output and charge a higher price
Institutions that channel funds from suppliers of financial capital to users of financial capital are referred to as:
A) deposit insurance committees. B) financial intermediaries. C) central banks. D) mutual funds.
Which of the following people is most likely to be classified as "working poor"?
(A) Jim, who is a full-time student with a work-study job in the college library. (B) Carol, a single mother who works 35 hours a week at a job that pays slightly above minimum wage. (C) Jason, who is working part time as a construction worker so he can devote time to starting up a real estate business. (D) Dolores, who has an advanced degree and works 40 hours a week.
Could the high-income Asian economies be characterized as open economies? Explain
What will be an ideal response?