Which of the following are reasons that caused the Fed to abandon its practice of setting money supply targets?
I. expiration of the legislation requiring the Fed to do so
II. banking deregulation in the 1980s allowing for MMDAs
III. financial development of retail sweep programs
A) IandIIonly
B) II and III only
C) I and III only
D) I, II, and III
Ans: D) I, II, and III
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A monopoly:
a. can increase price and increase output at the same time. b. can charge any price it wants and still sell all of its output. c. can sell any output it produces provided it accepts the market price. d. must lower price in order to increase output. e. faces a perfectly elastic demand curve.
In what possible ways can the production of public goods be funded?
Figure 21-1
In Figure 21-1, a reform in the distribution system that achieves the same distribution with less damage to work incentives is represented by a move from which points?
A. A to B B. C to G C. C to F D. B to C
?Hair Pins /hourBandanas /hourNigel410Mia93
Consider two individuals, Nigel and Mia, who produce hair pins and bandanas. Nigel's and Mia's hourly productivity are shown in Table 18.3. Nigel's opportunity cost of producing one hair pin is:
A. 1/3 of a bandana. B. 2.5 bandanas. C. 3 bandanas. D. 10 bandanas.