Which of the following Fed actions increases the excess reserves of commercial banks?
A. Selling bonds to the public
B. Selling bonds to commercial banks
C. Increasing the discount rate
D. Lower the reserve ratio
D. Lower the reserve ratio
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In general, individuals and nations should specialize in producing goods ________ other individuals or nations.
A. for which they have a lower opportunity cost compared to B. that they can produce more quickly than C. that they can produce less quickly than D. for which they have a higher opportunity cost compared to
The Laffer curve is
A. never referred to in modern day discussions of public finance. B. a curve that describes the relationship between tax rates and tax revenues. C. used to describe the relationship between consumption and hours worked. D. a curve that refers to the endowment of time.
How many British pounds would it cost to buy a pair of American designer jeans costing $45 if the exchange rate is 2.00 dollars per British pound?
A) 22.5 British pounds B) 32.5 British pounds C) 12.5 British pounds D) 40 British pounds E) 30 British pounds
If a consumer's purchases of a product increase as income increases, this good is classified as a(n):
A. normal good. B. inferior good. C. substitute good. D. complementary good.