The Federal Open Market Committee began operating in:
A. 1914.
B. 1929.
C. 1936.
D. 1913.
Answer: C
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When price elasticity is less than -1, consumer spending increases as price falls.
Answer the following statement true (T) or false (F)
Which of the following statements is true of open-market operations?
a. Open-market operations involve clearing checks b. Open-market operations involve lending money to member banks. c. Open-market operations involve accepting deposits from member banks. d. Open-market operations involve the Fed's purchase and sale of government securities. e. Open-market operations involve the Fed's purchase and sale of foreign exchange.
The per capita incomes of countries in the quartile with the most economic freedom during 1980-2010 were
a. slightly lower than those of the quartile of countries with the least economic freedom. b. about the same as the quartile of countries with the least economic freedom. c. about twice those of the countries with the least economic freedom. d. about eight times those of the quartile of countries with the least economic freedom.
A tax on the sellers of cameras encourages
A. sellers to supply a smaller quantity at every price. B. buyers to demand a smaller quantity at every price. C. sellers to supply a larger quantity at every price. D. Both A) and B) are correct.