The Fed's discount lending is of three types: ________ is the most common category; ________ is given to a limited number of banks in vacation and agricultural areas; ________ is given to banks that have experienced severe liquidity problems
A) seasonal credit; secondary credit; primary credit
B) secondary credit; seasonal credit; primary credit
C) primary credit; seasonal credit; secondary credit
D) seasonal credit; primary credit; secondary credit
C
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Suppose the market demand function for ice cream is Qd = 10 - 2P and the market supply function for ice cream is Qs = 4P - 2, both measured in millions of gallons of ice cream per year. Suppose the government imposes a $0.50 tax on each gallon of ice cream. The producer surplus after the tax is:
A. $3.56 million. B. $4.50 million. C. $1.89 million. D. $7.11 million.
It is inappropriate and ultimately foolish to respond to the disruptions of international trade by trying to restrict trade through __________ decisions.
a. policy b. political c. consumer d. business
Suppose the economy was in equilibrium, and the national government increased spending by $200 billion. Monetarist theory would predict that the nation's:
a. Real risk-free interest rate will fall causing real GDP to rise. b. Real risk-free interest rate will rise causing the monetary base, and therefore, the money supply to rise. c. Real risk-free interest rate will remain unchanged, but the money multiplier will rise. d. Real risk-free interest rate will rise but real GDP will remain the same. e. Real risk-free interest rate will fall causing the money multiplier to rise.
Suppose the accompanying figure shows the demand curve, marginal revenue curve and marginal cost curve for a monopolist.
The socially optimal level of output is ________ units per day.
A. I B. F C. G D. H