The Fed
a. issues currency but has little control over U.S. monetary policy
b. serves as the central bank for the United States
c. levies a variety of taxes—from sales tax to direct income tax—to control the money supply
d. ensures commercial bank profitability to stabilize the money economy
e. bails out savings and loans on a regular basis
B
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If there are equal rates of return between assets in two currencies, then there is
A) purchasing power parity. B) interest rate parity. C) parity of exchange. D) foreign exchange parity.
Refer to Figure 5-8. Suppose the emissions reduction target is currently established at 8 million tons. What is the area that represents the cost of eliminating an additional 1 million tons?
A) A + B B) A + B + C C) B + C D) A
A federally funded, state-administered program that pays medical and hospital costs for welfare recipients and other low-income people is
a. Medicare b. federal HMO c. state HMO d. Fedicare e. Medicaid
A windfall profit tax imposed on oil companies would shift the firms'
A) marginal tax rate. B) marginal cost curve. C) average cost curve. D) production function.