The discount window allows the Fed to lend money to financial institutions that are running short of funds.
Answer the following statement true (T) or false (F)
True
The Federal Reserve serves as a lender of last resort for banks in need of funds.
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Use the data in the table below to answer the following question.PriceQuantity Demanded$201218171620142412301036840644448The price elasticity of demand (based on the midpoint formula) when price decreases from $12 to $10 is
A. -1.37. B. -0.33. C. -1. D. -3.29.
The property that a person owns at the time of her death is her estate.
Answer the following statement true (T) or false (F)
Neither the demand nor the supply of sugar is perfectly elastic or inelastic. If the government imposes a 5 percent tax on sugar, the
A) price of sugar buyers pay falls by 5 percent. B) price of sugar buyers pay increases by less then 5 percent. C) price of sugar buyers pay does not change. D) quantity of sugar increases. E) price of sugar buyers pay rises by 5 percent.
Refer to the scenario above. Which of the following is true if David's maximum willingness to pay for the good falls to $380?
A) James will win the auction. B) Rachel will not take part in the auction. C) The owner of the good will earn the same average revenue. D) David will win the auction.