According to this Application, the Fed responded to the financial crisis by continuing to develop new programs. One example of this was its announcement that it would now purchase commercial paper, which is the short-term debt of corporations
This is an example of the Fed acting as a
A) unit of account. B) store of value.
C) medium of exchange. D) lender of last resort.
D
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The productive resource that organizes labor, land, and capital is
A) capital. B) financial capital. C) human capital. D) government. E) entrepreneurshi
_____ gains when the U.S. dollar appreciates
a. A U.S. exporting firm b. A foreign tourist in the United States c. A U.S. investor investing abroad d. A foreign investor in the United States
During an economic boom period, the actual rate of unemployment will be
a. less than the natural rate of unemployment. b. greater than the natural rate of unemployment. c. equal to the natural rate of unemployment. d. unaffected by the economic expansion.
Suppose that labor is mobile between sectors but that capital and land are specific. Then labor will tend to benefit from trade when:
a. it spends a large amount of its income on the imported good. b. it spends a large amount of its income on the exported good. c. wages do not change much in percentage terms. d. all of these occur.