When the Fed engages in open market operations, it is buying or selling
A) loans made to banks to meet the legal reserve requirement ratio.
B) gold.
C) U.S. government securities newly issued by the U.S. Treasury.
D) capital equipment.
E) U.S. government securities.
E
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A negative balance of trade is when ___________.
Fill in the blank(s) with the appropriate word(s).
It can take many months or even more than a year to begin a(n) _______________ fiscal policy after a recession has started.
a. contractionary b. exploratory c. aggressive d. expansionary
One person out of every 1000 is an economist and 90% of them are math oriented. If only 5% of the population is math oriented and you pick a person at random who happens to be math oriented, it is
A. likely that the person chosen is not an economist rather than an economist. B. likely that the person chosen is an economist rather than an non-economist. C. almost impossible the person will be an economist. D. almost certain the person will be an economist.
The zero sum fallacy refers to
a. You gaining only if someone else loses b. The allocation of the pieces of the total economic pie- if you eat the piece, I cannot consume it c. Ignores the possibility of the total pie growing itself d. All of the above