Which of the following monetary policy tools was introduced in 2008?
A. The discount rate.
B. The federal funds rate.
C. Open-market operations.
D. Interest on reserves held at the Fed.
D. Interest on reserves held at the Fed.
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Elaine values the utility of her first cup of coffee at $1; a second cup, $.75; and a third cup, $.50 . If Elaine drinks three cups of coffee for breakfast, her marginal utility is equal to
a. $.50, the value of her last cup of coffee. b. $1.00, the value of her first cup of coffee. c. marginal utility. d. $2.25. e. $1.50.
Which of the following measures productivity?
A. GDP per worker. B. Percentage increase in GDP. C. GDP per capita. D. The ratio of current GDP to GDP in the base period.
Since 1925, the longest expansion in the United States lasted:
A. 21 months. B. 120 months. C. 43 months. D. 60 months.
Which of the following most closely approximates the conditions of a monopolistically competitive market?
a. The market for Grade A eggs, which is characterized by a large number of firms producing a homogeneous product. b. The restaurant industry, which is characterized by firms producing a differentiated product in a market with low entry barriers. c. Local cable television service, where a licensed supplier competes with firms offering satellite service. d. The market for jumbo aircraft, where one major domestic firm competes with one major foreign firm.