The primary tool of monetary policy is:
A. the discount rate.
B. the reserve requirement.
C. open market operations.
D. the prime rate.
Answer: C
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Checking deposits are included in
A) M1 only. B) M2 only. C) M1 and M2. D) neither M1 nor M2.
Acme Tools manufactures anvils, a forging tool. When the price of anvils was increased from $7 to $13, Acme Tools was willing and able to increase production from 1 to 4 units per day. Using the midpoint formula, what is Acme's price elasticity of supply for anvils?
a. 2 b. 1 c. 0.5 d. 4 e. 3.5
A production indifference curve shows all combinations of input quantities capable of producing a given quantity of output
a. True b. False Indicate whether the statement is true or false
If the price of apples goes down, then the demand for pears will
A) increase, assuming apples and pears are substitutes. B) decrease, assuming apples and pears are substitutes. C) decrease, assuming apples and pears are complements. D) remain constant, assuming apples and pears are related goods.