The European Central Bank's equivalent of the Fed's open market operations (OMO) is:
A. very similar to the Fed's OMO in that they are highly centralized.
B. dissimilar to the Fed's OMO because fewer banks participate in the auctions of the securities.
C. similar to the Fed's OMO in that they accept only U.S. Treasury securities in their refinancing operations.
D. dissimilar to the Fed's OMO in that the operations are conducted at all 19 of the National Central Banks simultaneously.
Answer: D
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Sport Tee Corporation manufactures T-shirts bearing the logos of professional football teams. The wholesale market for sport T-shirts is perfectly competitive. The manager forecasts the wholesale price of T-shirts next year to be $7.00. The firm's estimated marginal cost isSMC = 12 ? 0.005Q + 0.0000008Q2where Q is the number of T-shirts produced and sold each month. Sport Tee Corporation will have a fixed cost of $2,000 per month. Average variable cost at Sport Tee is
A. 12Q ? 0.0025Q2 + 0.000000266Q3 B. 12 ? 0.01Q + 0.0000024Q2 C. 12 ? 0.0025Q + 0.000000266Q2 D. 12 ? 0.0001Q + 0.000001Q2 E. none of the above
Table 9.1 represents 3 markets for used computers. Which of the markets in Table 9.1 are in equilibrium?
A. 1 only B. 2 only C. 3 only D. 2 and 3
Usury laws that set maximum interest rates
a. are designed to protect the consumer. b. interfere with the market allocation process. c. have an effect only if the market rate is higher than the legal maximum. d. All of the above are correct.
Car manufacturers who use robots to do certain jobs on the assembly line are trying to increase supply by
a. lowering input costs b. taking advantage of government regulation c. applying new technology d. increasing the number of producers