Which of the following is in charge of the buying and selling of government securities by the Fed?
a. The president.
b. The Federal Open Market Committee.
c. The Congress.
d. None of these.
b
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Hurricane Katrina destroyed oil and natural gas refining capacity in the Gulf of Mexico. This subsequently drove up natural gas, gasoline, and heating oil prices. As a result, this should
A) shift the short-run aggregate supply curve to the right. B) shift the short-run aggregate supply curve to the left. C) move the economy down along a stationary short-run aggregate supply curve. D) move the economy up along a stationary short-run aggregate supply curve.
Which of the following would shift the production possibilities frontier outward?
a. a reduction in inefficiency b. a reduction in the size of the labor force c. an improvement in technology d. a change in the combination of goods produced e. increasing opportunity costs
One of the sources of cyclical unemployment is _____
a. flexible wages b. sticky downward wages c. the constant movement of workers between jobs d. the fundamental changes in the nature of an economy
The Fed has announced that it plans to lower the rate of monetary growth from 10% per year to 2% per year. You would expect this announcement to directly
A. increase money demand, shifting the LM curve up and to the left. B. increase money demand, shifting the LM curve down and to the right. C. decrease money demand, shifting the LM curve up and to the left. D. decrease money demand, shifting the LM curve down and to the right.