The Federal Reserve Bank of ________ houses the open market desk
A) Boston
B) New York
C) Chicago
D) San Francisco
B
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Along an IS curve as income levels __________, saving is larger, so the interest rate must be __________ to expand the level of investment so it will be equal to saving
A) increase; higher B) increase; lower C) decrease; higher D) decrease; lower
A judge requires Harry to make a payment to Sally. The judge says that Harry can pay her either $10,000 today or $11,000 two years from today. Of the following interest rates, which is the lowest one at which Harry would be better off paying $11,000 two years from today?
a. 2 percent b. 3 percent c. 4 percent d. 5 percent
Price leadership represents a situation where oligopolistic firms:
A. conspire to form a cartel. B. informally collude. C. face a kinked-demand curve. D. reduce their reliance on nonprice competition.
The midpoint formula is used to measure the elasticity of demand between two points on a demand curve
A) when demand is elastic. B) in special cases when the percentage change in the quantity demanded is equal to the percentage change in price. C) to ensure that the elasticity has a negative value. D) to ensure that we have only one value of the price elasticity of demand between two points on a demand curve.