The preferences between baskets of outcomes when the state of the world is not yet known are called
a. ex ante preferences.
b. ex post preferences.
c. risk-averse preferences.
d. diversified preferences.
a. ex ante preferences.
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A market consequence of the establishment of a price floor program is that price will be:
a. too low, and an excess supply will result. b. too low, and a shortage will result. c. too high, and an excess supply will result. d. too high, and a shortage will result. e. below the market equilibrium price.
If the Fed wants to increase the money supply through open market operations, it will
A) purchase government securities. B) sell government securities. C) first purchase, then sell, government securities. D) lend more reserves to commercial banks.
A bank which must hold 100 percent reserves opens in an economy that had no banks and a currency of $150 . If customers deposit $50 into the bank, what is the value of the money supply?
a. $50 b. $100 c. $150 d. $200
A supply-side policy to cure inflation would include
A. A minimum wage increase. B. A reserve requirement decrease. C. Deregulation. D. Tax increases.