A newspaper headline reads: "Fed Raises Discount Rate for Third Time This Year." This headline indicates that the Federal Reserve is most likely trying to:
A. Stimulate the economy
B. Increase the money supply
C. Reduce the cost of credit
D. Reduce inflationary pressures in the economy
D. Reduce inflationary pressures in the economy
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Which of the following has been one of the most productive sectors of the U.S. economy through the 19th, 20th and 21st centuries?
A. Textiles B. Steamships C. Steel D. Agriculture
A market might have an upward-sloping long-run supply curve if
a. firms have different costs. b. consumers exercise market power over producers. c. all factors of production are essentially available in unlimited supply. d. the entry of new firms into the market has no effect on the cost structure of firms in the market.
If bagels and cereal are substitutes, then the cross-price elasticity of demand between bagels and cereal will be:
A. greater than zero. B. less than zero. C. greater than one. D. less than one.
Which of the following is not included in the current account?
A. exports of goods B. imports of goods C. U.S. capital inflow and outflow D. unilateral transfers