If with a small decrease in the price of a good, the quantity supplied falls to zero, the supply of the good is said to be:
A) unit elastic.
B) inelastic.
C) perfectly inelastic.
D) perfectly elastic.
D
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The Bank of the United States faced opposition from which of the following?
A) local banks who resented the Bank's supervision B) advocates of limited government who distrusted its power C) farmers and small businesses who resented the Bank's interference with their ability to obtain loans D) all of the above
A 2% wage increase for teachers or police officers is:
a. usually offset by higher output per worker. b. leads to increases in municipal budgets. c. indicates that teachers and police have became more selfish. d. leads to more personalized service.
FOMC voting rights a. are given to all twelve regional bank presidents. b. rotate among the twelve regional bank presidents
c. rotate among the twelve regional bank presidents, except the president of the New York Fed, who always gets a vote. d. are all given to the president of the New York Fed, since all of the Fed's bond sales and purchases are conducted at the New York Fed trading desk.
If government finances fiscal policy through additional borrowing, it could affect the loanable funds market by causing
A. an increase in the quantity demanded and an increase in supply for loanable funds. B. an increase in the demand and an increase in the quantity supplied for loanable funds. C. an increase in the quantity demanded and an increase in the quantity supplied for loanable funds. D. an increase in the demand and an increase in supply for loanable funds.