Who determines the open-market operations of the Federal Reserve System?
A. FOMC
B. Board of Governors
C. FHLBB
D. FDIC
Answer: A
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Indifference curves close to the origin are ________ those farther from the origin because of ________
A) better than; transitivity B) worse than; nonsatiation C) better than; completeness D) worse than; transitivity
Which of the following is an exogenous variable in the Three-Sector-Model?
a. Oil prices b. Real GDP c. Quantity of real credit per time period d. Quantity of currency per time period e. All of the above are exogenous variables.
Under bilateral? monopoly, the wage rate is
A. indeterminate. B. higher than the competitive wage rate. C. equal to the competitive wage rate. D. lower than the competitive wage rate.
When there is a shift the aggregate supply curve caused by factors external to a nation's economy, it is called:
A. a trade imbalance. B. government control. C. a supply shock. D. an economic anomaly.