New tools of monetary policy created in 2008 included
A. Fed purchase of corporate paper and a new discount window for investment banks.
B. open market purchases and sales of short-term U.S. government securities.
C. restoration of individual income tax rates to their pre-2001 levels.
D. elimination of the requirement that banks hold reserves against deposits.
Answer: A
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Economists closely follow the current account balance because they believe it can provide information on the future movement of
A) interest rates. B) gold flows. C) exchange rates. D) special drawing rights.
Supplemental Security Income (SSI) is a type of
a. in-kind transfer. b. minimum wage law. c. private charity. d. welfare payment.
In a closed economy, national savings is:
A. equal to national investment. B. the sum of the savings of individuals and corporations plus the savings of the government. C. the sum of public savings plus private savings. D. All of these are true.
Figure 13.1 shows a demand and costs of an unregulated monopoly. The negatively sloped long-run average cost curve reflects that:
A. the firm's total cost of production decreases as its output increases. B. the firm's profit increases as its output increases. C. there exist large economies of scale in production. D. All of these are correct.