Recall the Application about the Fed's policy of quantitative easing to answer the following question(s). Recall the Application. By the end of the last phase of quantitative easing in late 2014, that value of the Fed's assets was:
A. $1 trillion.
B. $2 trillion.
C. $3 trillion.
D. $4.5 trillion.
Answer: D
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Tariff rates on products imported into the U.S
A) have dropped substantially over the past 50 years. B) were prohibited by the Constitution. C) reached an all time high in 2002. D) have risen steadily since 1920. E) were the government's main source of income in 2006.
The Bretton Woods system:
a. allowed for market-determined exchange rates. b. ended the use of the gold standard in all participating countries. c. led to a dramatic increase in the U.S. balance of payments deficit. d. resulted in the rapid increase of the U.S. gold supply in the 1960s. e. All of the above.
Refer to the accompanying figure.
An economy is currently in long-run equilibrium at point B, at an inflation rate of ?', which is too high for to sustain economic growth. If an anti-inflationary policy is enacted, the economy will be in short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________.
A. A; B B. B; C C. A; C D. B; A
Suppose a bumper wheat crop results in a 40 percent increase in output and sales, while the price elasticity of demand for wheat is about 0.8. Ceteris paribus, prices should
A. Rise by 8 percent. B. Rise by 50 percent. C. Fall by 8 percent. D. Fall by 50 percent.