A major function of the Federal Reserve System is
A. the control of government spending.
B. the implementation of fiscal policy for the federal government.
C. the control of taxing policy.
D. the control of the money supply.
Answer: D
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A two-firm oligopoly is called a
A) double monopoly. B) cartel. C) duopoly. D) monopolistic oligopoly. E) dual-market.
Which of the following statements about interest rate determination is most accurate?
a. In both the long run and the short run, the interest rate is determined in the market for loanable funds. b. In both the long run and the short run, the interest rate is determined in the money market. c. In the short run the interest rate is determined in the market for loanable funds, and in the long run it is are determined in the money market. d. In the short run the interest rate is determined in the money market, and in the long run it is determined in the market for loanable funds. e. The interest rate is determined through an interaction between the money market and the loanable funds market.
Economists mostly agree that the Great Depression was principally caused by factors that shifted short-run aggregate supply left
a. True b. False Indicate whether the statement is true or false
Starting from long-run equilibrium, a war that raises government purchases results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; potential C. higher; higher D. lower; higher