What was the approximate peak amount of borrowing from the Fed during the Financial Crisis of 2007-2009?
A) $2 billion
B) $100 billion
C) $270 billion
D) $1 trillion
D
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In a two-period model with default, the nation defaults on its debt in the current period if
A) the market interest rate is high, the cost of defaulting is low, and national debt is high. B) the market interest rate is low, the cost of defaulting is low, and national debt is high. C) the market interest rate is high, the cost of defaulting is high, and national debt is low. D) the market interest rate is low, the cost of defaulting is high, and national debt is low.
A quota will reduce consumer welfare when
A) the quota is less than the amount purchased without the quota. B) the quota is greater than the amount purchased without the quota. C) the quota is on a good with high income elasticity. D) Quotas always reduce consumer welfare.
When a second firm enters a monopolist's market:
A. the former monopolist's average cost increases as its output level decreases. B. the demand curve facing the former monopolist shifts to the right. C. the market price rises as the average cost increases. D. None of these
The Fisher index
A) uses the arithmetic mean of the Paasche index and the Laspeyres index. B) uses the standard deviation of the Paasche index and the Laspeyres index. C) uses the geometric mean of the Paasche index and the Laspeyres index. D) uses the harmonic mean of the Paasche index and the Laspeyres index.