Which of the following institutions is not eligible to borrow from the Federal Reserve at the discount rate?
A) Federal government
B) Commercial banks
C) Credit unions
D) Mutual savings banks
A
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Fact: The lowest 20% of U.S. family incomes in the U.S. has fallen from 4.8% to 3.8% between 1960 and 2010. Your authors argue that
A) this is clear evidence that the poor have gotten poorer. B) this is primarily the result of a general decline of the power of labor unions in America. C) while their percentage of national income has fallen, real GDP has increased over 4 times during the past 50 years, and so those persons actually earned much more income than before. D) none of the above are true.
In the above figure, the opportunity cost of moving from point D to point E is
A) 75 guitars. B) 55 guitars. C) 100 ukuleles. D) 100 guitars.
Suppose that the amount of computer printers demanded increases by 20 percent when the price of personal computers falls by 10 percent. The cross price elasticity of demand between computer printers and personal computers is
A) 0.5. B) -2.0. C) -0.5. D) 2.0.
Which of the following actions could be undertaken if the government wants to close an inflationary gap?
A. Increase taxes and reduce government spending. B. Reduce taxes and reduce government spending. C. Increase taxes and increase government spending. D. Reduce taxes and increase government spending.