The FOMC ________
A) meets four times a year to decide on how to conduct open market operations that influence the money supply
B) meets six times a year to decide on how to conduct open market operations that influence the money supply and interest rates
C) meets eight times a year to decide on how to conduct open market operations that influence the money supply and interest rates
D) meets twelve times a year to decide on how to conduct open market operations that influence interest rates
E) none of the above
C
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A depression is a particularly severe and protracted recession
Indicate whether the statement is true or false
Many younger people eat peanut butter AND jelly, whereas many older people eat peanut butter OR jelly. This suggests that the cross elasticity of demand between peanut butter and jelly is
A) negative for youngsters and positive for oldsters. B) positive for youngsters and negative for oldsters. C) negative for youngsters and zero for oldsters. D) positive for youngsters and zero for oldsters.
Preferential trade agreements have a beneficial trade-diversion effect when they reduce prices for traded goods and stimulate the volume of international trade
a. True b. False Indicate whether the statement is true or false
The average person in Country X spends almost all of their income, rather than save it. How will this dynamic most likely impact the country’s economic growth?
a. Not saving for the future will hinder economic growth. b. The spending will drive rapid economic growth. c. It will have little impact on growth. d. It will slow growth in the short term but boost it in the long term.