The Federal Reserve reduced the Fed funds rate to the 0–0.25 percent range in 2008 in response to the Lehman Brother’s catastrophe.
Answer the following statement true (T) or false (F)
True
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If this is a closed economy, the price of a TV will be ________. 
A. $75 B. $275 C. $125 D. $175
If a price ceiling of $8 were placed in the market in the graph shown:
A. some surplus is transferred from consumer to producer.
B. some surplus is transferred from producer to consumer.
C. all consumers are made better off.
D. all producers are made better off.
AACSB: Knowledge Application
If production of a good creates beneficial externalities, a perfectly competitive market will produce
A. less output than would maximize profit. B. more output than would maximize profit. C. less output than is socially efficient. D. more output than is socially efficient.
If a country has a trade deficit
a. it has positive net exports and positive net capital outflow. b. it has positive net exports and negative net capital outflow. c. it has negative net exports and positive net capital outflow. d. it has negative net exports and negative net capital outflow.