The Federal reserves policy regarding announcing its policy decisions has:
A. always been to announce it immediately; that was part of the original Federal Reserve Act of 1913.
B. only recently gone to immediate announcement; until 1994 these policy decisions were secret.
C. changed so that now the Fed does not release its decisions publicly.
D. been to release the decisions immediately since its early failure at preventing the Great Depression.
Answer: B
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Auctions in recent years have resulted in higher prices paid for letters written by John Wilkes Booth than those written by Abraham Lincoln. Which of the following events would cause the price differences in these letters to get smaller?
A) The demand for Lincoln letters decreases and the demand for Booth letters increases. B) The demand for Booth letters increases. C) The demand for Lincoln letters increases and the supply of Booth letters increases. D) The supply of Lincoln letters increases.
Industries that are extremely sensitive to the business cycle are the
A) durable goods and service sectors. B) nondurable goods and service sectors. C) capital goods and nondurable goods sectors. D) capital goods and durable goods sectors.
The required return on equity for an individual stock includes which of the following?
A) systemic risk B) idiosyncratic risk C) risk-free interest rate D) all of the above
In some industries where firms experience declining average total costs over the full range of output that consumers are willing to buy,
a. a smaller firm will always have lower per-unit costs. b. many firms will tend to emerge from the competitive process. c. a single large firm will develop, and it will have cost advantages that protect it from potential rivals. d. a single large firm will develop, and it will buy out any smaller rival firms to avoid the small firms' production at a lower per-unit cost.