The policy tool of "credit easing" refers to the ________
A) Treasury's issuance of federal debt to finance home buying
B) federal government's requirement that the Fed must lend directly to home buyers
C) Fed's requirement that the federal government must lend to directly to home buyers
D) Fed's purchase of private securities to stimulate banks' lending
E) Fed's lowering of the federal funds rate to zero
D
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An example of a bilateral monopoly would be when a union
A) bargains with many different employers. B) deals directly with the final consumers. C) bargains with a monopoly. D) bargains with a monopsony.
The demand for classical music is _______________ than is the demand for Beethoven's music because _______________.
A. less price elastic; classical music requires a smaller portion of one's income B. more price elastic; classical music requires a smaller portion of one's income C. less price elastic; the scope of the market for classical music is more broadly defined D. more price elastic; the scope of the market for classical music is more broadly defined
A cartel is
a. a group of oligopolistic firms that engage in formal collusion b. a group of monopolistically competitive firms which charge the same price c. usually legal in the United States d. an agreement among rival firms to set prices independently e. illegal throughout the world
Policy-oriented economists seek to develop theories to
a. explain how things work so policies can be formulated. b. describe what happened in a particular time period in history. c. describe current economic events. d. find correlations between events. e. change people's values and ethics.