During the great recession the Fed used many non-traditional tools to manage the money supply, including ______.
a. merging member banks
b. eliminating interest payments on reserves held at the Fed
c. quantitative easing
d. lowering reserve requirements
c. quantitative easing
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Residential housing consumption is not affected by U.S. personal income taxes.
A. True B. False C. Uncertain
Appendix: Winning an auction can be exhilarating, but it can also lead to doubt as to whether you did the right thing or not. This is called:
a. The regret effect. b. Moral hazard. c. Second wind. d. The winner's curse.
Household savings rates:
A. vary enormously across countries. B. are remarkably similar across countries. C. seem to be similar for countries within the same continent. D. are impossible to compare across countries.
Both Diana and Sarah like jazz music and music by the Beatles. Diana likes music by the Beatles much better than jazz music, whereas Sarah prefers jazz music to music by the Beatles. If we were to graph an indifference curve with CDs by the Beatles on the horizontal axis and jazz CDs on the vertical axis, then
a. Diana and Sarah would have identical indifference curves. b. Diana's indifference curve would be steeper than Sarah's indifference curve. c. Sarah's indifference curve would be steeper than Diana's indifference curve. d. We do not have enough information to compare their indifference curves.