All of the following are objectives of the Federal Reserve system, except
A. to furnish an elastic currency.
B. to conduct monetary policy.
C. to accept deposits from individuals.
D. to serve as a lender of last resort to commercial banks and thrift institutions.
C. to accept deposits from individuals.
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The key idea of the real business theory is that potential output itself will remain stable over time
Indicate whether the statement is true or false
In the Keynesian model, a firm's high menu costs cause
A) real-wage rigidity. B) full employment. C) price stickiness. D) efficiency wages.
Which of the following best explains the source of consumer surplus for Good A? a. Many consumers pay prices that are greater than the equilibrium price of Good A
b. Many consumers would be willing to pay more than the market price for some units of Good A. c. Many consumers think the market price of Good A is greater than its cost. d. Many consumers of Good A place a value on it that is less than the market price.
A school of tuna swimming in the ocean is
A) nonexcludable and rival. B) excludable and rival. C) nonexcludable and nonrival. D) excludable and nonrival.