Which of the following is not a basic monetary policy tool used by the Fed?
A. The discount rate.
B. The reserve requirement.
C. Taxes.
D. Open-market operations.
C. Taxes.
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The GDP price index
A) can be interpreted as 100 multiplied by real GDP divided by nominal GDP. B) is the difference between nominal GDP and real GDP. C) measures the average price level. D) can be interpreted as real GDP minus nominal GDP and the resulting difference then multiplied by 100. E) is equal to between real GDP minus nominal GDP.
Technology spillovers: a. Are caused by patents
b. Can lead to clustering of technology firms near one another. c. Are examples of negative externalities. d. All of the above are true.
Terrell, an auto repair mechanic who remains unemployed because he refuses to work for less than $1,000 an hour, is
a. counted as part of the labor force. b. considered frictionally unemployed. c. an underemployed worker. d. not counted as part of the labor force. e. considered as productively active.
Keynesian economists tend to focus their analysis on:
A. economic growth. B. aggregate supply. C. the short run. D. the long run.