Which of the following is the Federal Reserve's most important tool of monetary control?
A. discounting operations
B. margin requirements
C. reserve requirement changes
D. open market operations
D. open market operations
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Jason needs help getting ready for the next test in his economics course and would like to hire Maria, an economics tutor, to help him
Jason is willing to pay $30 for the first hour of tutoring, $25 for the second, $20 for the third, $15 for the fourth, and $10 for the fifth. The equilibrium price for tutoring is $15 per hour. For how many hours of tutoring will Jason hire Maria? Why this amount of hours? What is Jason's consumer surplus, if any, from the tutoring? What is Maria's consumer surplus from the tutoring?
What are the advantages and disadvantages of resource allocation under monopolistic competition compared to perfect competition?
What will be an ideal response?
In an increasing-cost industry, an increase in output will lead to
A. an downward shift in the MC curve. B. an increase in long-run per-unit costs. C. an downward shift in the ATC curve. D. a reduction in long-run per-unit costs.
Larger volume is more likely to be associated with lower prices if the larger volume results from
A) increased demand. B) inelastic demand. C) increased supply. D) elastic supply. E) inelastic supply.