Based on the graph showing the effective federal funds rate, once interest rates bottomed out after the 2001 recession, they ______.
a. levelled off for several years
b. began an upward trend that is still ongoing
c. increased consistently for several years
d. went up slightly one year then dropped rapidly
c. increased consistently for several years
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Which of the following is not a characteristic of a perfectly competitive market structure?
a. The firm is a price-taker. b. The firm is a profit maximizer. c. The firm's demand curve is horizontal. d. The market demand is downward sloping. e. The firm can earn an economic profit in the long run.
The market for _____ is an example of an oligopoly
a. hair gel b. body deodorants c. running shoes d. commercial aircrafts
Suppose you deposit $1,000 cash in your checking account at a bank. If the bank is loaned up and if the required reserve ratio is 10%, the maximum amount that the bank can lend now, following your deposit is
A) $100. B) $900. C) $1,000. D) $10,000.
The marginal cost curve intersects the average variable cost curve at the ________ value of the average variable cost curve.
A. average B. zero C. maximum D. minimum