The Fed has the greatest control over which of the following?
A) the money multiplier
B) discount loans
C) the amount of excess reserves
D) the nonborrowed monetary base
D
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Because the open-economy macroeconomic model focuses on the long run, it is assumed that
a. GDP, but not the price level is given. b. the price level, but not GDP is given. c. both the price level and GDP are given. d. the price level and GDP are variables to be determined by the model.
Suppose iceberg lettuce has an income elasticity of demand of 0.35. A 10 percent increase in income causes the quantity demanded of iceberg lettuce to _______________ by ______________ percent
A) rise; 3.5 B) rise; 28.57 C) fall; 28.57 D) fall; 3.5
The effect of a government surplus on the equilibrium level of GDP is substantially the same as:
A. a decrease in imports. B. an increase in saving. C. an increase in consumption. D. an increase in investment.
A World bank study conducted in Kenya found that as the proportion of vaccinated people in a village grew, more people wanted to get vaccinated.
Answer the following statement true (T) or false (F)