Which of the following agricultural programs reduces agricultural output rather than increasing it?
A. Marketing orders.
B. Farm cost subsidies.
C. Direct income support programs.
D. Export sales.
Answer: A
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The behavior of the M1 velocity of money in recent years can be explained by: a. stability of interest rates
b. a low and stable rate of inflation. c. monetary policy that has been successful in stabilizing the economy. d. financial innovation creating new substitutes for M1 money. e. a large number of banks and savings and loan associations going bankrupt.
The Fed's power to set the required reserves of commercial banks:
A. provides a certain source of interest income for commercial banks. B. allows the Fed to control the lending ability of commercial banks and, thereby, control the money supply. C. prevents banks from hoarding too much vault cash. D. prevents commercial banks from earning excess profits.
Which of the following would increase the unemployment rate?
A) a law making it illegal to work more than 35 hours per week B) a cut in unemployment compensation C) an increase in unemployment insurance payments D) a decrease in the minimum wage
M1 includes
A. currency, checkable accounts, traveler's checks, small CDs, and money market accounts. B. currency plus checkable accounts and traveler's checks. C. just cash held by the public. D. cash held by banks and by the public plus deposits at the Federal Reserve.