Which of the following best defines quantity supplied?
a. the amount of a good sellers would choose to produce, in a given set of circumstances
b. the amount of a good sellers will be able to sell, in a given set of circumstances
c. the various amounts of a good sellers would like to sell over various sets of circumstances
d. the amount of a good sellers would like to sell if they could choose the price for which it sold
e. the amount of a good that sellers would be able to sell if they could choose the price for which it sold
A
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The interest rate that the Fed charges banks to borrow funds from the Fed is the
A) nominal interest rate. B) discount rate. C) federal funds rate. D) money market rate.
The Treasury yield curve will be downward sloping when
A) investors expect future short-term interest rates to be significantly lower than current short-term interest rates. B) investors expect future short-term interest rates to be significantly higher than current short-term interest rates. C) short-term interest rates are significantly lower than long-term interest rates. D) short-term interest rates are equal to long-term interest rates.
A transfer payment is a payment
A) made by the government to its current workers. B) associated with items exported to other nations. C) for in-kind services provided to the government. D) for which no services or goods are rendered.
An important effect of fractional reserve banking is that bankers have
A. little control over total reserves. B. total control over the amount of lending in the economy. C. no control over the amount of reserves in the banking system. D. some discretion over the money supply.