The rate targeted by the Federal Reserve System as it conducts monetary policy is the ________
A) discount rate
B) prime rate
C) Treasury bill rate
D) fed funds rate
D
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As a result of an increase in tariffs, imports decrease and government revenue increases
Indicate whether the statement is true or false
In Figure 10-5 above, suppose that the level of government expenditures increases. This causes a movement of the steady-state point such as from points
A) A to B. B) D to B. C) D to C. D) A to C. E) A to D.
A market tends to be monopolistic if
a. The good has too many substitutes b. The good has very few substitutes c. There are too many rivals d. The good has too few complements
Because most people spend a very small fraction of the income on tap water, it is likely to be
A. inelastic. B. perfectly elastic. C. perfectly inelastic. D. elastic.