The Taylor rule is a recommendation of how
A) banks should determine worthy loan recipients.
B) the Fed should set the required reserve ratio.
C) the Fed should set the federal funds rate target.
D) banks should securitize their debt.
C
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When the demand for a product is more elastic than the supply
A) firms pay the majority of the tax on the product. B) consumers pay the entire tax on the product. C) consumers pay the majority of the tax on the product. D) firms pay the entire tax on the product.
The evidence usually cited to prove that globalization hurts workers in developing countries
A) is inconclusive due to poor statistical design of the underlying samples. B) is inconclusive due to the poorly funded Central Statistical Office of Mexico. C) is inconclusive due to the ambiguous theoretical implications of the findings. D) is conclusive. E) does not take into account the Heckscher-Ohlin model.
Ecuador's GDP per capita in 2017, based on market exchange rates, was $5,600. In that same year, Ecuador's GDP per capita based on purchasing power parity was $11,100. The difference between these two measures of GDP per capita is most likely explained by:
A. credentialism. B. Ecuador's limited capital account convertibility. C. Ecuador's dual economy. D. differences in relative prices between Ecuador and other countries.
Suppose that Jason quits a job with Corporation A in order to look for more rewarding employment. Jason would be
A. counted as frictionally unemployed. B. counted as cyclically unemployed. C. included in the economy's "hidden employment." D. counted as still being employed.