After the year 2000 . the FOMC changed some of its operating procedures. In particular, it stopped setting:
a. explicit interest rates for commercial banks to charge.
b. explicit ranges for money growth targets.
c. explicit number of government bonds to be bought and sold.
d. standardized real GDP targets.
e. explicit numbers for the targeted natural rates of unemployment.
b
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________ creates an informational equilibrium in which people trust the wisdom of others and ignore their own information
A) Anchoring B) Hedging C) Sniping D) Herding
Which of the following is incorrect? During the Great Recession U.S:
a. Wealth fell. b. Unemployment duration rose. c. Stock market rose. d. Inflation fell. e. All of the above are correct.
Diversification of a portfolio
a. can eliminate market risk, but it cannot eliminate firm-specific risk. b. can eliminate firm-specific risk, but it cannot eliminate market risk. c. increases the portfolio's standard deviation. d. is not necessary for a person who is risk averse.
The demand curve faced by a pure monopolist:
A. may be either more or less elastic than that faced by a single purely competitive firm. B. is less elastic than that faced by a single purely competitive firm. C. has the same elasticity as that faced by a single purely competitive firm. D. is more elastic than that faced by a single purely competitive firm.