In the U.S., loans made by Federal Reserve to banks fall in the categories of:
A. reserves.
B. discount loans.
C. discount loans and foreign exchange reserves.
D. discount loans and reserves.
Answer: B
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Starting from long-run equilibrium, a large tax increase will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. recessionary; lower; potential B. expansionary; lower; potential C. expansionary; higher; potential D. recessionary; lower; lower
The above figure shows a motel engaged in monopolistic competition with other motels. The equilibrium quantity at this motel is ________ rooms per day
A) 200 B) 300 C) 400 D) 500 E) 100
Which of the following is included in M1?
A) the $200 you charged on your credit card to purchase your textbooks B) the $200 check you wrote to purchase your textbooks C) the $200 in cash you used to purchase your textbooks D) the $200 loan you arranged to purchase your textbooks
Constant cost industries: a. use large portions of the total supply of specialized resources
b. significantly increase the demand for inputs when expanding output, and as a result, input prices rise. c. do not use inputs in sufficient quantities that a change in industry output would affect the prices of the inputs. d. are those in which the cost curves of individual firms shift upwards as industry output expands.