Which of the following is a function of the Federal Reserve System?
fiscal policy (is determined the President and Congress)
tariffs and quotas
free trade
monetary policy
monetary policy
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In the 1937-1938 economic downturn
A. the number of unemployed rose dramatically by about 5 million. B. industrial production fell by 30 percent. C. presidential as well as Federal Reserve policy helped to cause the decline. D. All of the choices are true.
Special-interest groups, such as the pharmaceutical lobby, often get what they demand because
a. politicians are rationally ignorant b. voters are rationally ignorant c. they engage in logrolling d. they represent the median voter e. none of the above
Suppose the supply of Malaysian rubber increases. If U.S. producers purchase this rubber as an input, in the United States, this would cause a
A) rightward shift of the AD curve. B) leftward shift of the AD curve. C) rightward shift of the SRAS curve. D) leftward shift of the SRAS curve.
A consumer notices that the price of a bottle of SpringFresh perfume increased from $30 to $40. Which of the following would most likely cause this increase?
a. a significant increase in minimum wage b. a more efficient bottling system c. stricter product inspections d. a large advertising campaign