The Federal Open Market Committee of the Federal Reserve System is responsible for
A) maintaining competition among the nation's commercial banks.
B) determining monetary policy actions.
C) establishing the official price of gold.
D) defining the foreign exchange value of the dollar.
B
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Any point on the aggregate demand schedule must also be
A) a point that clears the market for real money balances. B) a combination of real interest rates and income where aggregate desired expenditures is in balance. C) a point where money demanded is equal to money supplied. D) all of the above.
The supply curve for bonds would be shifted to the left by
A) a decrease in government borrowing. B) a decrease in the corporate tax on profits. C) an increase in tax subsidies for investment. D) an increase in expected inflation.
The midpoint quantity between 100 and 300 units is
a. 100 units b. 200 units c. 300 units d. 150 units e. 20,000 units
_______________ —a term referring to the government practice of enacting laws to regulate prices instead of letting market forces determine prices.
a. Price ceiling b. Price floor c. Price control d. Subsidies