What country is given credit for the birth of the Eurodollar market?
A) the United States
B) England
C) the Soviet Union
D) Japan
C
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In the circular flow model, the value of total income for an economy ________ the value of total production
A) equals B) is greater than C) may be greater than or less than D) is less than
Which of the following statements best describes trade-offs?
a. With a trade-off, it is necessary to give up some of one good to gain more of the other good. b. Trade-offs are not determined by the relative prices of the goods. c. A trade-off is always represented by a straight vertical line. d. A trade-off is always represented by a straight horizontal line.
The Federal Reserve Open Market Committee meets about ____ times a year
a. 8. b. 12. c. 4. d. 2. e. 24.
Answer the following statement(s) true (T) or false (F)
1. The government can influence the economy through its fiscal policy by making changes in the money supply. 2. When the Federal Reserve Bank buys or sells U.S. securities, it changes the level of reserves in the banking system, which has an effect on interest rates. 3. The discount rate is the interest rate banks are charged when they borrow money from the Fed. 4. The Fed relies primarily on changes in the reserve requirement (the minimum amount of money banks must hold in reserve to cover deposits) to ease or tighten the money supply.