In response to the financial crisis of 2007-2009, the Federal Reserve
A. raised the fed funds rate from 2.0 percent to 5.25 percent.
B. raised the discount rate from 2.0 percent to 5.25 percent.
C. cut the fed funds rate from 5.25 percent to 2.0 percent.
D. cut the discount rate from 5.25 percent to 2.0 percent.
Answer: C
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Suppose a used car dealer can earn an additional $25,000 in revenue per year by increasing advertising on a local radio station from 3 times a day to 5 times a day
At what additional cost would this increase in advertising not be considered economically rational?
A quintile is 20% (one-fifth) of a population group
Indicate whether the statement is true or false
Education confers positive externalities because
a. some education is done outside the market (i.e., in public schools) b. curricula are regulated by the government, even in private schools c. an educated person consuming education gains many benefits he or she did not expect when the process started d. an educated person who has consumed education usually behaves in a way that benefits others e. education gives benefits to individuals in excess of the costs they pay to get it
The demand will be ________ if the consumer has ________ substitute goods to choose from
A. elastic; no B. elastic; less C. inelastic; more D. elastic; more