In conducting monetary policy, how has the Federal Reserve enhanced its credibility?
A) by revealing the Fed's target for the federal funds rate
B) by marketing and increased expenditure on advertising
C) by not following through with changes it has announced
D) by keeping the minutes of the open market committee meetings confidential
A
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Refer to the scenario above. If Joseph prefers more money to less, ________
A) he will not accept any offer made by Phillip B) he will always accept any offer made to him C) Phillip will offer the lowest possible amount to Joseph D) he will accept the offer only if Phillip pays him an equal share of the money
If consumer incomes increase, the demand for product Y:
a. will necessarily remain unchanged b. will shift to the right if Y is a complementary good c. will shift to the right if Y is a normal good d. will shift to the right if Y is an inferior good
A temporary decrease in the price of oil would be considered a:
A. long-run supply shock. B. demand shock. C. short-run supply shock. D. The changing price of oil would not affect any of these.
A price floor is:
A. a legal minimum quantity that can be sold at a particular price. B. a legal maximum quantity that can be sold at a particular price. C. a legal minimum price. D. a legal maximum price.