Banging the gong" means that the Fed
A. has lowered the discount rate and raised the fed funds target rate.
B. has raised the discount rate and lowered the fed funds target rate.
C. changes the discount rate and the fed funds target rate simultaneously.
D. sells securities in the open market.
C. changes the discount rate and the fed funds target rate simultaneously.
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Which of the following is true about the unions' supply curve of labor?
a. It shifts to the right because unions force firms to increase their employment. b. It is horizontal at the wage rate established by the union. c. Is the same as the marginal labor cost curve of the monopsonist. d. It is steeper than a nonunion supply curve of labor. e. It is downward sloping.
Figure 17-12
If the country illustrated in is initially trading without restrictions at a world price of $1.00, the loss of consumer surplus as a result of a tariff of $0.50 per unit is represented by area
a.
a
b.
b + d
c.
c + i + e + f
d.
c
e.
d
We observe a market in which the price has risen and the quantity sold has risen as well. This could be caused by a(n):
a. Increase in demand b. Decrease in supply c. Decrease in demand d. Increase in supply
Refer to Scenario 9.6 below to answer the question(s) that follow. SCENARIO 9.6: Celeste borrowed $40,000 from her brother to open a car wash. She pays her brother a 5% yearly return on the money he lent her. Her other yearly fixed costs equal $18,000. Her variable costs equal $40,000. In her first year, Amy sold 40,000 car washes at a price of $2.50 per car wash.Refer to Scenario 9.6. Celeste's total fixed costs equal
A. $2,000. B. $18,000. C. $20,000. D. $22,000.