If the Fed simultaneously lowers the reserve requirement and sells government bonds, the money supply will:
A. expand.
B. remain unchanged.
C. contract.
D. move in a way that cannot be determined from the information given.
Answer: D
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The (false) idea that an industry should be protected because of learning-by-doing until it is large enough to compete successfully in world markets is the ________ argument for protection
A) cheap foreign labor B) infant industry C) dumping D) comparative advantage
How will a government-imposed minimum wage affect the equilibrium level of employment in a competitive labor market and in a monopsony labor market?
What will be an ideal response?
An auction for mineral rights on an unexploited oilfield can be characterized as
a. A common value auction b. A private value auction c. Highest value d. None of the above
In the last four decades the U.S. money supply
A. grew every year. B. fell every year. C. grew in about half the years and fell the other years. D. grew almost every year and only fell in a few years.