Open market operations is the most important and most commonly used tool of monetary policy.
a. true
b. false
a. true
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According to your text, the central economic task for a society is
A) to eliminate scarcity. B) to assure every household gets what it needs. C) to secure cooperation among people in using what is available to obtain what is wanted. D) to train enough economists to ensure supplies of goods and services will successfully continue to meet demands for goods and services in the future.
The loan market is in equilibrium. If the demand for land decreases, the rental rate of land ________
A) might rise or fall B) rises C) falls D) remains unchanged
The Coase theorem states that, in the presence of cost externalities, an optimal equilibrium can be attained
A) with government taxation. B) by prohibiting production. C) by correctly defining property rights and through negotiation between the parties. D) None of the above
The relative tax burden borne by buyers and sellers is called the:
A. tax wedge. B. tax incidence. C. tax revenue. D. real tax.