In its function of controlling the money supply, the Fed does not do which one of the following?
A. Controls the money supply.
B. Clears checks.
C. Regulates banks.
D. Offer checking accounts to the public.
Answer: D
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If an asset can be obtained or disposed of without much risk of losing its nominal value, it is said to be
A) valuable. B) wealth. C) fiduciary. D) liquid.
If S = 200, T = 700, G = 950, and NX = -200, this makes net domestic investment
A) 150. B) -150. C) 50. D) -50. E) 650.
In the Keynesian view,
a. both monetary and fiscal policy can affect income. b. monetary policy can be ineffective when money demand is less interest rate elastic. c. fiscal policy is a more reliable way to stimulate output during a recession. d. all of the above
Quantity discrimination makes sense if
A) buyers of smaller quantities are more price sensitive than buyers of larger quantities. B) buyers of smaller quantities are less price sensitive than buyers of larger quantities. C) demand for the good is perfectly elastic. D) the lower price for larger quantities encourages all consumers to purchase the larger quantity.