Explicit functions of the Fed include all the following except:
A. conducting fiscal policy.
B. conducting monetary policy.
C. serving as a lender of last resort to financial institutions.
D. providing banking services to the U.S. government.
Answer: A
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Mortgage loans made to borrowers with a more limited ability to repay are known as
a. subprime mortgages. b. credit default swaps. c. leveraged securities. d. mortgage backed securities.
GDP measures:
a) A country's income b) A country's wealth c) Consumer spending d) Net trade income
Which type of tariff is used to offset subsidies on exports entering the United States?
a. antidumping duties b. countervailing duties c. export duties d. safeguard duties levied under the escape clause
An import-export business that finds itself in a "short" foreign-currency position risks a financial loss if
A. the foreign currency depreciates (more than expected). B. the domestic currency depreciates (more than expected). C. it pays attention to exchange-rate forecasts. D. foreign demand for its product rises (more than expected).