Which of the following is NOT part of the FOMC directive?
A. It specifies target ranges for money supply growth.
B. It establishes short-term federal funds rate objectives.
C. It lays out the FOMC's general economic objectives.
D. It specifies who the chair of the Fed is.
Answer: D
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In the long run, a monopolistically competitive firm ________ make an economic profit and a monopoly ________ make an economic profit
A) can; can B) can; cannot C) cannot; can D) cannot; cannot
If prices in the diamond market become less volatile, all else equal, then the demand for diamonds ________ and the demand for gold ________
A) increases; decreases B) increases; increases C) decreases; decreases D) decreases; increases
A decrease in the price of GPS systems will result in
A) a smaller quantity of GPS systems supplied. B) a larger quantity of GPS systems supplied. C) a decrease in the demand for GPS systems. D) an increase in the supply of GPS systems.
Refer to the information for this hypothetical economy provided in Table 20.1 below to answer the question(s) that follow.Table 20.1 2014 2015 2016QuarterIIIIIIIVIIIIIIIVIIIIIIIVOutput9094981029691888487949087Refer to Table 20.1. Which of the following quarters can be associated with inflation?
A. the second quarter of the year 2016 B. the second quarter of the year 2014 C. the first quarter of the year 2016 D. all of the above