The president from which Federal Reserve Bank always has a vote in the Federal Open Market Committee?
A) Philadelphia
B) Boston
C) San Francisco
D) New York
D
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The extent to which the demand for a good changes when the price of a substitute or complement changes, other things remaining the same, is measured as the
A) income elasticity of demand. B) cross elasticity of demand. C) price elasticity of demand. D) price elasticity of supply. E) cross income elasticity of demand.
If a monopolist lowers its price from $45 to $42 in order to increase its sales volume, marginal revenue
a. equals $45. b. equals $42. c. is less than $42. d. is between $45 and $42.
Institutions that make loans to borrowers and obtain funds from savers are called
A) financial markets. B) financial intermediaries. C) financial conglomerates. D) financial branches.
Which of the following fixed exchange rate regimes has very little monetary policy autonomy?
A) dirty float B) open peg C) open nonpeg D) closed