People scalping tickets for a jazz festival will be successful at selling the tickets for a profit
A. any time the jazz festival is popular.
B. when prices are too high.
C. when the price set by the festival organizers is less than the market equilibrium price.
D. only when there is excess supply.
Answer: C
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Selling government bonds through open market operations allows the Federal Reserve to
A) decrease money in the Treasury. B) receive a high rate of interest on the bonds. C) decrease the money supply in the private sector. D) receive discounts on future sales.
Which of the following helps economists avoid double counting in computing of GDP?
a. Including goods and services produced only within a given area. b. Only include transfer payments made by the government and not individuals. c. Only include capital purchases by corporations and not by family-owned firms. d. Avoiding the use of intermediate goods in calculating GDP.
If the money market is in the liquidity trap, then people
A) do not want to hold money because its value is at its lowest. B) want to hold bonds because the interest rate is quite high. C) do not want to hold bonds because their price is likely to decrease. D) want to hold bonds because their price is high. E) a, b and d
?In the long run, a decrease in aggregate demand causes the price level to _______ and the long-run aggregate supply curve to _____________.
A. ?decrease; decrease B. ?increase; increase C. ?decrease; remain unchanged D. ?increase; remain unchanged