Which of the following did the Fed do during the recession of 2008-2009?
a. lowered the federal funds rate and sold securities and loans
b. lowered the federal funds rate and purchased securities and loans
c. raised the federal funds rate and sold securities and loans
d. raised the federal funds rate and purchased securities and loans
b
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A government-sponsored good is one that
A) is desirable to no one but ruled desirable by the court system nonetheless. B) everyone agrees is socially desirable. C) freely competitive markets have determined is socially desirable. D) the political process has determined is socially desirable.
Which of the following describes a situation in which demand must be inelastic? a. Total revenue decreases by 10 percent when the price of spats rises by 10 percent. b. Total revenue decreases by less than 10 percent when the price of spats rises by 10 percent
c. Total revenue increases by more than 10 percent when the price of spats rises by 10 percent. d. Total revenue decreases by $10 when the price of spats rises by $10. e. Total revenue decreases by more than $10 when the price of spats rises by $10.
The Fed came about in 1913 due to Congress's desire to have a centralized bank with national control of banking
Indicate whether the statement is true or false
A manager who does not see his or her goal as the maximization of profit
A. may nevertheless maximize the value of the firm. B. will likely be replaced either by shareholders or by a takeover of the firm. C. represents a principle-agent problem. D. both b and c