Purchases and sales of government securities by the Federal Reserve are called
A) discount loans.
B) federal fund transfers.
C) open market operations.
D) swap transactions.
C
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A sometimes short, sometimes extended period of declining output and living standards is referred to as a recession.
Failure to coordinate monetary policies with ________ exchange rates can lead to ________ that might be offset by coordination
A) floating; negative externalities B) floating; sterilization C) fixed; negative externalities D) fixed; sterilization
The formula for finding the present value of an amount M that will be received one year from now, when the interest rate is R, is
A) M × (1 + R/100). B) M × (1 + R). C) M / (1 + R). D) M / R. E) M / (100R).
United States coins and currency are backed by
A) silver. B) gold. C) reserves of foreign currencies. D) confidence that they will retain their value.