The primary purpose of the discount window is to
A) influence the nation's money supply.
B) fulfill the bank's lender of last resort role.
C) control banks' excess reserves.
D) influence the amount of loans that banks provide to the public.
B
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The above figure shows the market for rice in Japan. S represents the domestic supply curve, and the horizontal line at P =1 represents the world supply curve. If imported rice is banned, the loss in social welfare is
A) a + b + c + d + e. B) a. C) c + e. D) i.
The sales of firms can
A) flow with the business cycle. B) oppose the business cycle. C) be largely independent of the business cycle. D) all of these choices.
In the market for labor:
A. individuals make up the demand. B. firms create the supply. C. individuals are never paid above their productivity. D. the price in the market is the wage.
When there is an excess demand of a product in an unregulated market, the tendency is for
A. price to rise. B. quantity demanded to increase. C. quantity supplied to decrease. D. price to decrease.