The first formal acknowledgement of the primary macroeconomic goals of price stability, high employment, and promoting economic growth in the United States came with passage of the:
a. Federal Reserve Act of 1913
b. the Sherman Antitrust Act of 1890.
c. the Social Security Act of 1935.
d. the Employment Act of 1946.
d
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The money market rate observed most closely by the Open Market Account Manager is the
A) Treasury bill rate. B) commercial paper rate. C) discount rate. D) federal funds rate.
Answer the following statement true (T) or false (F)
1) The adverse selection problem is the tendency for insured drivers to drive recklessly. 2) The moral hazard problem is the tendency of some parties to a contract to alter their behavior as a result of the contract in ways that are costly to the other party. 3) Professor Gullible agreed to cancel the final examination if students promised to study for it anyway. The concept of moral hazard would predict that it is unlikely that students will study for the exam. 4) Asymmetric information always results in adverse selection. 5) Insurance co-pays and deductibles are methods used by insurance companies to reduce moral hazard.
Economists Fryer and Loury argued that affirmative action
A. necessarily undermines minorities' incentive to invest in their own education. B. "color-blind" proxies for race easily achieve diversity without reference to race itself. C. has actually reduced the graduation and bar passage rates of African-American law students. D. is the reason so many white males are passed over for promotion in favor of minorities.
Which of the following factors will shift AS1 to AS2?
Refer to the graph above.
A. An increase in real interest rates
B. A decrease in business subsidies
C. An increase in input prices
D. A decrease in business taxes