Which of the following is a Fed tool?
A. Federal funds rate
B. Stock prices
C. Discount rate
D. Interest rate spreads
Answer: C
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The supply curve of labor to industry in the Lewis model is horizontal if there is surplus labor in agriculture. This condition persists as long as
a. the marginal product of labor is less than the average product of labor in agriculture. b. the marginal product of labor in agriculture is less than the marginal product of labor in industry. c. there are diminishing returns to labor in agriculture. d. the marginal product of labor in agriculture is zero.
For each of the following scenarios, state the effect on the debt-to-GDP ratio:
a. The growth rate of the labor force increases. b. The primary deficit increases. c. Total factor productivity decreases. d. Seigniorage decreases. e. The nominal interest rate is constant and the growth rate of the money supply increases. f. The nominal interest rate is not constant and the growth rate of the money supply increases.
The long-run equilibrium condition for perfect competition is:
a. P = AVC = MR = MC. b. P = ATC = MR = MC. c. Q = AVC = MR = MC. d. Q = ATC = MR = MC. e. TR = ATC = MR = MC.
According to evidence from around the world, the real losers in globalization of the world economy are:
a. non-government organizations. b. environmental activists. c. skilled laborers in the globalizing nations. d. countries that have not participated in the globalization process. e. the poorest people in the globalized developing countries.