If Z is an inferior good, an increase in money income will shift the:
A. demand curve for Z to the left.
B. supply curve for Z to the right.
C. demand curve for Z to the right.
D. supply curve for Z to the left.
Answer: A
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The "invisible hand" refers to the notion that
A) competitive markets send resources to their highest valued uses. B) government intervention is necessary to ensure efficiency. C) marginal benefit decreases as more is consumed. D) marginal cost increases as more is produced. E) no matter what allocation method is used, the resulting production is efficient.
A price floor will result in
a. a decrease in price if the price floor is below the market price. b. a decrease in price if the price floor is above the market price. c. an increase in price if the price floor is above the market price. d. the same price as the market price.
Which of the following can issue bonds?
A. the government B. corporations C. government agencies D. all of the above
The office of the Federal Reserve Bank of New York charged with implementing Federal Reserve open market policy actions is known as the
A) Open Market Coordination Office. B) Open Market Cooperation Office. C) Response Desk. D) Trading Desk.