Which of the following is not a tool of monetary policy?
a. open market operations
b. reserve requirements
c. changing the discount rate
d. increasing the government budget deficit
d
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An inferior good is a good whose quantity demanded
A. rises when its price falls. B. falls when the price of a related good falls. C. falls when the consumer’s total utility rises. D. rises when the consumer’s real income falls.
If a firm is a price taker, then the demand curve faced by the firm is perfectly elastic
a. True b. False Indicate whether the statement is true or false
By purchasing large amounts of mortgage-backed securities (MBS) in 2009, the Federal Reserve's goal was to
a. raise the price of MBS and raise their yields. b. raise the price of MBS and lower their yields. c. lower the price of MBS and raise their yields. d. lower the price of MBS and lower their yields.
According to the law of comparative advantage, a particular task is performed most efficiently by the individual with the lowest
a. wage rate. b. tax liability. c. net worth. d. opportunity cost.