The primary credit rate is
A. determined by Congress.
B. determined directly by the Federal Reserve.
C. determined by market forces alone, without Federal Reserve influence.
D. determined by market forces but targeted by the Federal Reserve.
Answer: B
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The cutthroat oligopolist has a ___________ demand curve.
Fill in the blank(s) with the appropriate word(s).
Given that milk and cookies are complements, suppose the price of flour (an ingredient in cookies) rises. What happens in the market for cookies?
A) The equilibrium price and quantity rise. B) The equilibrium price rises, and the equilibrium quantity falls. C) The equilibrium price and quantity fall. D) The equilibrium price falls, and the equilibrium quantity rises.
Commercial banks increase the supply of money when they purchase either personal IOUs or government bonds from businesses and households.
Answer the following statement true (T) or false (F)
Diminishing marginal returns imply that marginal cost is rising.
Answer the following statement true (T) or false (F)