When the Federal Reserve System was first established, its founders intended the Fed to
a. assist the Treasury in collecting taxes.
b. be primarily responsible for government regulations.
c. pursue an active monetary policy to stabilize the economy.
d. provide protection against financial panics by acting as the lender of last resort.
d
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An increase in the price level leads to
A) an upward movement along the aggregate supply curve. B) a downward movement along the aggregate supply curve. C) a leftward shift of the aggregate supply curve. D) a rightward shift of the aggregate supply curve. E) neither a movement along the aggregate supply curve nor a shift of the aggregate supply curve.
An organic food manufacturing company has been advertising widely against the consumption of inorganic food. This is an example of ________
A) backward induction B) indoctrination C) anchoring D) sniping
The condition required for equilibrium to exist according to Keynesian analysis is that
a. foreign trade must be in balance. b. taxes must be equal to government spending. c. total planned injections must be equal to total planned leakages. d. employment must be full.
The marginal revenue that would be derived from the production of the fifth unit is
A. $24.
B. $21.
C. $12.
D. $6.