When the Federal Reserve sells government bonds to the public, this is an example of a(n):
A. open-market purchase.
B. discount loan.
C. open-market sale.
D. bank panic.
Answer: C
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After having a monopoly in the diamond market for many years, by 2000 the De Beers company faced competition from other companies. To maintain its market share, De Beers
A) lowered the prices of its diamonds to make the market appear less profitable to potential competitors. B) began buying so-called "blood diamonds" in order to keep these diamonds out of the control of other diamond companies. C) bought diamond mines in Canada and Russia that had been its competitors. D) adopted a strategy of differentiating its diamonds. Each of its diamonds is now marked with a microscopic brand.
U.S. educational achievements ________
A) began to stagnate in the 1970s B) have always fallen behind our European and Asian counterparts C) have not had a measurable effect on U.S. growth rates D) have not been duplicated outside the U.S.
If the total utility derived is 20 utils from two glasses of lemonade and 24 utils from three glasses of lemonade, the marginal utility of the third glass is _____
a. 4 utils b. 6 utils c. 20 utils d. 24 utils
If the value of your marginal product is 100 and you are being paid 80, which of the following is the most plausible reason that you remain with the firm?
A. You have no other options so you stay or go unemployed. B. You are altruistic and want to contribute to the firm's normal profit. C. You have no way of knowing the value of your marginal product so you feel OK about the salary of 80. D. You value the high rank and leadership role as well as the salary that your position offers.