In a monopoly market structure, the supplier in the market always
A. produces too much.
B. earns economic profit.
C. sells faulty products.
D. is the whole industry.
Answer: D
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An open-market sale of Treasury bills by the Fed not only reduces the money supply but also
A. Lowers T-bill prices and raises interest rates. B. Drives up T-bill prices and pushes down interest rates. C. Lowers T-bill prices and pushes down interest rates D. None of these.
The gravity equation was tested and found to be very accurate in predicting:
a. world trade in total. b. trade between various provinces in Canada and American states. c. trade between the United States and Japan. d. trade between nations in the European Union.
According to supply-side theory, which of the following would cause a rightward shift in the aggregate supply curve?
A. Eliminating government-funded training programs for the structurally unemployed. B. Increasing transfer payments to the unemployed. C. Eliminating job search assistance. D. Lifting trade restrictions.
Members of the Board of Governors are:
A. appointed by the President of the United States and confirmed by the Senate. B. appointed by the President of the United States and confirmed by the House of Representatives. C. appointed by the U.S. Secretary of Treasury and confirmed by the President of the United States. D. appointed by member-banks and confirmed by the House of Representatives.