Using the above figure, which of the following is TRUE?
A) Axis 1 is typically called the y-axis.
B) Axis 1 is also known as the origin.
C) Axis 2 is typically called the x-axis.
D) Point b is known as the origin.
D
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Suppose the Federal Reserve buys $50 million worth of securities from a commercial bank. As a result, the monetary base ________, and the quantity of money will ________ $50 million due to the ________
A) increases; increase by more than; money multiplier B) decreases; decrease by more than; money multiplier C) increases; increase by more than; expenditure multiplier D) decreases; decrease by less than; expenditure multiplier E) increases; decrease by; currency drain
Assume good X is produced in a monopolistically competitive market. In addition, each of the firms in the industry uses essentially the same technology. Competitors distinguish their individual products primarily through persuasive advertising
Assume that one of the firms in the market discovers a new production process that substantially reduces the average costs of production. Analyze the effects of this discovery on long-run equilibrium in the market.
Voting members of the Federal Open Market Committee are
A) the Board of Governors, the presidents of five Federal Reserve Banks, and the Comptroller of the Currency. B) the Board of Governors and presidents of five Federal Reserve Banks. C) the Board of Governors and all twelve Federal Reserve Bank presidents. D) the Board of Governors, all twelve Federal Reserve Bank presidents, and the Secretary of the Treasury.
If the reserve ratio is 5 percent, then $1,000 of additional reserves can create up to
a. $5,500 of new money. b. $5,000 of new money. c. $4,000 of new money. d. None of the above is correct.