The discount rate is typically:
A. determined by the government, and does not correlate with other interest rates.
B. about the same as federal funds rate.
C. higher than federal funds rate.
D. lower than federal funds rate.
Answer: C
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If a 10 percent rise in price leads to a reduction in quantity demanded of more than 10 percent,
A. demand is elastic. B. demand is inelastic. C. elasticity of demand is unitary. D. None of the above is correct.
Because the products of firms in a monopolistically competitive market are not homogeneous, the
A) demand curve for the industry is the same for the firm. B) demand curve for the firm's product is horizontal. C) demand curve for the firm's product is downward sloping. D) demand curve for the firm's product is upward sloping.
Under a floating exchange-rate regime, in the very short run (before the exchange rate adjusts), expansionary fiscal policy will lead to
A. improvement in the current account but deterioration in the financial account. B. deterioration in the current account but improvement in the financial account. C. improvement in both the current account and financial account. D. deterioration in both the current account and financial account.
Which of the following pairs of goods are NOT complements?
A) Hockey sticks and hockey pucks B) Computer CPUs and computer monitors C) On-campus student housing and off-campus rental apartments D) all of the above E) none of the above