Which of the following is responsible for decision making regarding the purchase and sale of bonds by the Fed?
a. the chairman of the Board of Governors of the Federal Reserve System
b. the Federal Open Market Operations Committee
c. the U.S. Secretary of Treasury
d. the president, with the advice and consent of the chairman of the Council of Economic Advisers.
B
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The liquidity approach to measuring money stresses the role of money as a
A) temporary store of value. B) medium of exchange. C) unit of accounting. D) standard of deferred payment.
Refer to Figure 3-7. Assume that the graphs in this figure represent the demand and supply curves for ramen noodles, an inferior good. Which panel describes what happens in this market as a result of an increase in income?
A) Panel (a) B) Panel (b) C) Panel (c) D) Panel (d)
Which of the following statements is true?
A) The marginal revenue of a monopolistically competitive firm will be positive at low prices and negative at high prices. B) The marginal revenue of a monopolistically competitive firm will be positive at high prices and negative at low prices. C) Because the demand curve for a monopolistically competitive firm is downward-sloping its marginal revenue will be negative. D) The marginal revenue of a monopolistically competitive firm will be always be positive.
The introduction of human capital to the Solow neoclassical growth model ________ the predicted rate of return on investment in rich countries relative to poor countries
A) increases B) reduces C) may either increase or reduce D) has no effect on