Who owns the Federal Reserve System?
(A) All commercial banks in the country
(B) The federal government
(C) Member banks
(D) All banks in the country
Ans: (C) Member banks
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What are the main factors that determine aggregate money demand?
What will be an ideal response?
A monopolist faces a demand curve that
A) is perfectly horizontal at the market price. B) is below the marginal revenue curve. C) is downward sloping. D) coincides with the industry supply.
Sugar and honey are substitutes goods for many cooking applications. If the price of sugar rises, we would expect the
a. demand for honey to increase b. demand for honey to decrease c. quantity demanded of honey to decrease d. price of honey to decrease e. quantity demanded of honey to increase
In the open-economy macroeconomic model, the supply of loanable funds comes from
a. the sum of domestic investment and net capital outflow. b. net capital outflow alone. c. domestic investment alone. d. None of the above is correct.