Keynesian economics is known as a _____ theory.
A. demand-side
B. supply-side
C. nonactivist
D. laissez-faire
C. nonactivist
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Open-market operations are:
A. sales or purchases of government securities, by the Fed, to or from banks on the open market. B. regulations that set the minimum fraction of deposits banks must hold in reserve. C. operations that allow any bank to borrow reserves from the Fed at a special interest rate, called the discount rate. D. the purchase and sale of financial instruments on the open market.
When marginal revenue is zero:
A. total cost is minimized. B. total revenue is maximized. C. elasticity of demand is zero. D. profit is maximized.
If you purchased a newly issued 30-year bond from American Airlines with a face value of $1,000 and a coupon payment of 3 percent, American Airlines would pay you
A) $33.33 per year for 30 years plus $1,000 at the end of the 30th year. B) $30 per year for 30 years. C) $30 per year for 30 years plus $1,000 at the end of the 30th year. D) $33.33 per year plus 3 percent per year for 30 years.
The federal funds rate is the interest rate for
A. Interbank reserve loans. B. Reserves borrowed from the Fed. C. Money lent to a bank's best business customers. D. Reserves lent by banks to the Fed.