Open market operations refer to the purchase or sale of ________ to control the money supply
A) corporate bonds and stocks by the Federal Reserve
B) U.S. Treasury securities by the U.S. Treasury
C) U.S. Treasury securities by the Federal Reserve
D) corporate bonds and stocks by the U.S. Treasury
C
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When Exxon Mobil reports record profits of more than $10 billion per quarter, we know
A) other oil companies must be struggling. B) consumers must be paying high prices at the pump. C) consumers must have lost $10 billion in surplus. D) all of the above. E) none of the above follow from the information given.
If a tariff of $10 has no effect on the world price, the optimal tariff on that product
A) is $10. B) is zero. C) is higher than $10. D) depends upon the amount of government revenue collected.
What effect does an expansionary monetary policy in the U.S. have on the foreign trade sector?
A) The lower value of the dollar will decrease exports and increase imports. B) The lower value of the dollar will decrease imports and increase exports. C) The higher value of the dollar will decrease exports and increase imports. D) The higher value of the dollar will decrease imports and increase exports.
A monopolist maximizes revenue at
a. At MR= MC b. At MR>MC c. At P=MR d. At MR=0