The Fed's mistakes of the early 1930s were compounded by its decision to
A) raise reserve requirements in 1936-1937.
B) lower reserve requirements in 1936-1937.
C) raise the monetary base in 1936-1937.
D) lower the monetary base in 1936-1937.
A
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One characteristic of a Giffen good is that it
A) is a luxury good. B) is an inferior good. C) has an upward-sloping Engel curve. D) All of the above.
The government's fiscal policy is its plan to influence aggregate demand by changing
a. the money supply. b. minimum wage levels. c. sales taxes. d. taxation and spending.
You have a portfolio valued at $1,000. Over the next twelve months it loses 75% of its value. What return does the portfolio need to earn over the following twelve months to restore the portfolio to its original value?
A. 200% B. 300% C. 75% D. 25%
If you advertise and your rival advertises, you each will earn $4 million in profits. If neither of you advertises, you will each earn $10 million in profits. However, if one of you advertises and the other does not, the firm that advertises will earn $1 million and the non-advertising firm will earn $5 million. Suppose this game is repeated for a finite number of times, but the players do not know the exact date at which the game will end. The players can earn profits of $10 each period as a Nash equilibrium to a repeated play of the game if the probability the game terminates at the end of any period is:
A. between 0 and 1. B. close to 1. C. close to 0. D. All of the statements associated with this question are correct.