Which of the Fed's instruments is most frequently used?
A. Changing margin requirements for the stock market
B. Changing reserve requirements
C. Changing the discount rate
D. Open-market operations
Answer: D
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An unchallenged monopoly in a product market has a tendency to be lazy, but that tendency can be limited by the capital market
Indicate whether the statement is true or false
A consumer spends his income on food and rent. The government places a $1 tax on food. To restore the pre-tax consumption level of food the rebate paid to consumers will be smallest when
A) the own price elasticity of demand for food is 2, and the income elasticity of demand for food is 5. B) the own price elasticity of demand for food is 5, and the income elasticity of demand for food is 5. C) the own price elasticity of demand for food is 2, and the income elasticity of demand for food is 10. D) the own price elasticity of demand for food is 5, and the income elasticity of demand for food is 10.
Phoenix furniture uses 12 workers, each working eight hours, to produce 192 rocking chairs. What is Phoenix's productivity?
a. 192 rocking chairs b. 24 rocking chairs per hour c. 2 rocking chairs per hour d. 2 hours per rocking chair
The three main provisions of the Taft-Hartley Act were (1) __________; (2) _________; and (3) ____________.
Fill in the blank(s) with the appropriate word(s).