Which of the following initiates changes in the Fed's discount rate?
a. Board of Governors
b. Federal Reserve Banks
c. Federal Open Market Committee
d. Department of Commerce
e. Treasury Department
B
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Answer the following statement(s) true (T) or false (F)
1. The underlying assumptions of the Coase Theorem are that transactions are costless and that damages are accessible and can be measured. 2. The study conducted by Greenpeace China of the Pearl River Delta (PRD) region indicates that progress is being made to improve water quality. 3. If property rights are held by the producer of an externality-generating good, then bargaining will continue as long as MEC>?>M?, where ? represents the payment offered to the producer not to pollute. 4. If recreational users of a natural resource hold the property rights to that resource, their bargaining stance with the producer of an externality-generating good who wants to use that resource is that they will accept a payment ? as long as ?< (MSC – MSB). 5. If property rights for resources are shared, those resources are called common property resources.
The IMF comprises of 50 member countries including all developed countries, and a few countries of Asia and Latin America
a. True b. False Indicate whether the statement is true or false
If the economy is self-regulating and in an inflationary gap,
A) wages and prices will fall. B) wages will rise, but prices will fall. C) wages and prices will rise. D) wages will fall, but prices will rise. E) neither wages nor prices will change.
Industries in which firms are suffering losses are likely to ________ in the long run.
A. expand B. contract C. neither expand nor contract, as firms must earn an economic profit to stay in business D. expand or contract depending on the normal rate of return