In 1913, Congress and the President did not envision that the Fed would control
A) the money supply.
B) discount loans.
C) lender-of-last-resort activity.
D) broad control over most aspects of money and the banking system.
D
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The demand for the U.S. dollar in the foreign exchange market is a derived demand. A derived demand means that the demand is derived from
A) government policy. B) the demand for U.S. goods, services, and assets. C) the supply of U.S. dollars. D) the demand by U.S. residents for foreign goods, services, and assets. E) the domestic demand for U.S. goods and services.
Can frictional unemployment ever be totally eliminated? Explain your answer
What will be an ideal response?
For a natural monopoly to exist
A) a firm must continually buy up its rivals. B) a firm must have a government-imposed barrier. C) a firm's long-run average cost curve must exhibit diseconomies of scale beyond the economically efficient output level. D) a firm's long-run average cost curve must exhibit economies of scale throughout the relevant range of market demand.
When the nominal exchange rate falls
A) the domestic currency buys more units of foreign currency and the domestic currency has depreciated. B) the domestic currency buys fewer units of foreign currency and the domestic currency has depreciated. C) the domestic currency buys more units of foreign currency and the domestic currency has appreciated. D) the domestic currency buys fewer units of foreign currency and the domestic currency has appreciated.