During the 1950s, Fed monetary policy targeted
A) the monetary base.
B) the exchange rate.
C) discount loans.
D) interest rates.
D
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The monetary base declines when
A) the Fed extends discount loans. B) Treasury deposits at the Fed decrease. C) float increases. D) the Fed sells securities.
The automobile industry is
a. in monopolistic competition because brand names are important b. in monopolistic competition because it has economies of scale c. in monopolistic competition for legal reasons d. an oligopoly because each firm must produce a large amount of output before it can achieve low average costs e. an oligopoly for legal reasons
Monetarists and rational expectations theorists generally agree that:
A. the Federal Reserve should adhere to a monetary rule. B. the rate of interest and the price of bonds are positively or directly related. C. the money supply cannot be measured and therefore cannot be controlled by the Federal Reserve. D. prices and wages are inflexible downward.
An adverse supply shock would directly ________ labor productivity by changing the amount of output that can be produced with any given amount of capital and labor. It would also indirectly ________ average labor productivity through changes in the level of employment.
A. increase; decrease B. decrease; decrease C. increase; increase D. decrease; increase