If a Federal Reserve Bank wanted to tighten the money supply, it would
a. lower the reserve requirement.
b. buy securities in the open market.
c. raise the discount rate.
d. lower the discount rate.
c. raise the discount rate.
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GDP is defined as the market value of all ________ in a given time period
A) final goods produced in a country B) final goods and services produced by citizens of a particular country regardless of where in the world they are located C) final goods and services produced in a country by only the citizens of the country D) final goods and services produced in a country
On a bar graph comparing a firm's economic profit with its accounting profit, it will always be TRUE that
A) explicit costs will be greater in the column representing accounting profit. B) explicit costs will be greater in the column representing economic profit. C) total revenue will be greater in the column depicting accounting profit. D) opportunity costs will be missing from the column depicting accounting profit.
Because a monopolistically competitive market is characterized by
A. many small sellers selling a differentiated product, each seller has some influence over its own price. B. a single seller of a product that has few suitable substitutes, the seller is a price maker. C. many small sellers selling a differentiated product, one seller's change in price has a large effect on the market price. D. a few sellers selling a differentiated product, each seller bases its decisions on the expected decisions of its rivals.
One important consequence of the self-serving bias is that:
A. Some people cannot correct a personal trait that might be causing them to fail in many ventures B. Someone could persist in pursuing a failed policy despite overwhelming evidence of the failure C. Bad decisions can be made because people will act without pausing to see whether their intuition is correct or not D. Some people may wrongly believe in their forecasting ability to predict future outcomes of risky investments