In recent years the Federal Open Market Committee has focused on a target for
a. M1 growth.
b. the federal funds rate.
c. the number of Treasury Securities issued by the federal government.
d. total reserves of banks.
b
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A decrease in the expected future domestic exchange rate causes the demand for domestic assets to shift to the ________ and the domestic currency to ________, everything else held constant
A) right; appreciate B) right; depreciate C) left; appreciate D) left; depreciate
The Sherman Antitrust Act of 1890 was not well understood because
(a) skilled lawyers were not involved in its creation. (b) judges were mainly political hacks and therefore were unable to follow the logic of the Act. (c) vested interests had been allowed too much influence in drafting the legislation. (d) the purpose of the legislation was not sufficiently clear when it was drafted.
"A reduction in gasoline prices caused the demand for gasoline to increase. The lower gas prices also led to an increase in demand for large cars, causing their prices to rise" This statement contains
What will be an ideal response?
A perfectly elastic demand:
A. is demonstrated by a vertical demand curve. B. has a price elasticity of -1. C. means consumers are extremely sensitive to a change in price. D. means quantity demanded is unchanged if the price changes by any amount.