When the Fed lowered the discount rate in late 2008, the action was ultimately designed to:
A. decrease the monetary base.
B. increase the money supply.
C. increase the prime rate.
D. increase the reserve requirement.
Answer: B
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Using the data in the table above, if the price of a stapler is $5, then there is ________ of staplers, and the quantity of staplers demanded ________ the quantity of staplers supplied
A) a shortage; is greater than B) a surplus; is less than C) a shortage; is less than D) a surplus; is greater than E) neither a surplus nor a shortage; equals
A firm's price rises. As a result, the
A) supply of labor to the firm decreases, that is, the labor supply curve shifts leftward. B) supply of labor to the firm increases, that is, the labor supply curve shifts rightward. C) demand for labor by the firm increases, that is, the labor demand curve shifts rightward. D) demand for labor by the firm decreases, that is, the labor demand curve shifts leftward.
What property of the von-Neumann Morgenstern utility function is related to risk aversion?
a. Its upward slope b. Its downward slope c. Its convexity d. Its concavity
A unit of account is
A) a bank account. B) a savings account. C) a common measurement in which values are expressed. D) the same as a medium of exchange. E) none of the above