An open market purchase of bonds by the Fed
a. will shift the money supply curve to the left.
b. will drain reserves from the banking system and shift the money supply curve to the right.
c. will inject reserves into the banking system and shift the money supply curve to the left.
d. will shift the money supply curve to the right.
e. will change the slope of the money supply curve.
D
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Adam Smith revolutionized the way we think about economic growth with his celebrated book called _________ that was published in _________
a. Progress and Poverty; 1890 b. Capital; 1867 c. The Theory of Business Cycles; 1936 d. The Wealth of Nations; 1776 e. The Theory of Economic Growth; 1914
A relatively high wage is predicted to be enjoyed by workers where
a. the population is large relative to industrial activity. b. the jobs are disagreeable or dangerous. c. the jobs are pleasant and satisfying. d. demand is weak and supply is high.
A quota represents
A) A combination of ad valorem and specific tariffs. B) A quantitative restriction on the amount of good that may be imported. C) A compromise between taxpayers and consumers. D) None of the above.
The official poverty rate in the United States includes
A) less than 5 percent of the population. B) between 10 and 15 percent of the population. C) between 20 to 25 percent of the population. D) over 35 percent of the population.