The Federal Open Market Committee (FOMC)
A. provides advice on banking stability to the Fed.
B. follows the actions and operations of financial markets to keep them open and competitive.
C. sets policy on the sale and purchase of government bonds by the Fed.
D. monitors regulatory banking laws for member banks.
Answer: C
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The credit derivative that, for a fee, gives the purchaser the right to receive profits that are tied either to the price of an underlying security or to an interest rate is called a
A) credit option. B) credit swap. C) credit-linked note. D) credit default swap.
Assuming a worker's money wage rose from $10 per hour to $20 per hour while all product price have doubled, then in the classical model, this worker would
a. supply more labor after the wage increase. b. supply less labor after the wage change. c. supply the same amount of labor after the hourly wage increase. d. demand less leisure.
Other things constant, the price elasticity of demand for a product will be smaller (more inelastic) if:
A. people spend a large share of their income on the product. B. people spend an insignificant share of their income on the product. C. the population in the market area is large. D. there are many good substitutes for the product.
Refer to the information provided in Table 24.1 below to answer the question(s) that follow.Table 24.1
Refer to Table 24.1. The equilibrium level of output is ________ billion.
A. $800 B. $1,200 C. $1,600 D. $2,000