Refer to the Article Summary. When Fed Chair Janet Yellen announced that a rate increase would be warranted by the end of the year, she was was referring to the
A) required reserve rate. B) long-term real rate of interest.
C) prime rate. D) federal funds rate.
D
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Refer to Table 2-17. What is Lucy's opportunity cost of making a tricycle?
A) 3/4 of a wagon B) 1 1/3 tricycles C) 3 wagons D) 2 tricycles
Which of the following would result from an increase in the supply of a good?
A. Both equilibrium price and quantity would rise. B. Both equilibrium price and quantity would fall. C. Equilibrium price would rise, and equilibrium quantity would fall. D. Equilibrium quantity would rise, and equilibrium price would fall.
Which statement about nontransaction deposits is true?
a. They must be converted before they can be used to make a payment. b. They are the same thing as demand deposits. c. Economists agree that they are forms of money. d. They are part of the M1 definition of money.
With a recession under way, consumers have less money, causing a demand shift to the right.
Answer the following statement true (T) or false (F)