An exchange rate that is set by official government policy is called a ________ exchange rate.
A. nominal
B. fixed
C. real
D. flexible
Answer: B
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The textbook asserts that banks create money themselves. How?
A) Banks have their own printing presses, which is permitted by the Fed. B) Banks are allowed to reach well into their required reserves as long as they can demonstrate that it would be profitable to do so. C) Banks, when lending out their excess reserves, unleash a process that can increase the money supply through the deposit expansion multiplier. D) For all of the above reasons.
The substitution effect of a decrease in the price of movie tickets results in
A) a decrease in the quantity of movie tickets demanded. B) an increase in the demand for movie tickets. C) an increase in the quantity of movie tickets demanded. D) a decrease in the demand for movie tickets.
The __________ declared that some forms of price discrimination is illegal, especially when it decreases competition.
a. Robinson-Patman Act b. Sherman Antitrust Act of 1890 c. Merger Act d. Federal Trade Commission Act.
Bonds are
A. shares of ownership in a corporation. B. promises to repay loans. C. promissory notes issued by proprietorships. D. promissory notes issued by partnerships.