The Board of Governors of the Federal Reserve System is responsible for
a. approving changes in the discount rate.
b. controlling monetary policy.
c. administering discount lending.
d. Both a and b
e. All of the above
A
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The "Big Three" concepts of Macroeconomics are
A) profits, liquidity, and sustainability. B) unemployment rate, inflation, and economic growth. C) asset rebalancing, markups, and profitability. D) federal budget, foreign trade, and quantitative easing.
At the equilibrium price, the quantity of the good that buyers are willing and able to buy
a. is greater than the quantity that sellers are willing and able to sell. b. exactly equals the quantity that sellers are willing and able to sell. c. is less than the quantity that sellers are willing and able to sell. d. there is no scarcity.
Which of the following tools of commercial policy yields a revenue to the government?
a. Quota b. Tariff c. Export subsidy d. Government procurement policy e. Health and safety standards
For given inputs of labor and capital, if technology is better, labor productivity will be
a. higher. b. lower. c. unchanged. d. characterized by increasing returns to scale.