the largest influence on the Fed's monetary policy actions is
What will be an ideal response?
held by the chairman of the board of governors who sets the policy agenda
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Planned investment spending ________
A) is equal to planned fixed investment spending plus government investment B) is unrelated to the real interest rate C) is heavily influenced by expectations about the future D) all of the above E) none of the above
The aggregate production function shows how much output the economy can produce
a. with different quantities of labor, land, capital and states of technology b. with different quantities of labor and capital, for given amounts of land and a given state of technology c. with different quantities of labor, for given amounts of land and capital, and a given state of technology d. with a given amount of money e. with different amounts of money and given amounts of land, labor, capital, and a given state of technology
The interest rate that the Fed charges when it lends reserves to banks is called the federal funds rate
Indicate whether the statement is true or false
The price-output combination that maximizes profits for a monopolist occurs at the point where
A) total revenues and total costs are equal. B) the difference between total revenues and total costs is the greatest. C) total revenues are the greatest. D) the elasticity of demand equals one.