The Federal Open Market Committee directive is a
A) general statement of Federal Reserve policy goals.
B) detailed description of government security purchases to be carried out by the New York Federal Reserve bank.
C) statement specifying the maximum level of inflation the Federal Reserve will accept.
D) statement specifying the maximum level of unemployment the Federal Reserve will accept.
A
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Samantha was willing to pay $10 for a hamburger because she was hungry but she only paid $2.50. What is the marginal benefit Samantha gained from the hamburger?
A) $2.50 B) $7.50 C) $10.00 D) $12.50 E) None of the above answers is correct.
The price elasticity of demand for oil is estimated at 0.05. This value means a 10 percent increase in the
A) quantity of oil demanded will result from a 0.5 percent increase in the price of oil. B) quantity of oil demanded will result from a 0.5 percent decrease in the price of oil. C) price of oil will increase the quantity of oil demanded by 0.5 percent. D) price of oil will decrease the quantity of oil demanded by 0.5 percent.
Total planned expenditure (equals income) is 13,500, autonomous consumption expenditure is 600, the marginal propensity to consume is 0.8, government purchases are 2,700, taxes are 2,500 and planned investment spending is 2,900
Net exports is ________. A) 3,840 B) negative 1,500 C) negative 1,380 D) negative 1,340 E) 2,100
The two broad themes that have driven this text are that ___________ are both evolving.
Fill in the blank(s) with the appropriate word(s).