Which of the following is the primary tool the Fed uses to control the supply of money?
a. the discount rate
b. the reserve requirements
c. open market operations
d. the 30-year home-mortgage interest rate
C
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Refer to Table 20.1. George is a single taxpayer with an income of $65,000. What is George's average tax rate?
A) 19.00% B) 22.68% C) 23.61% D) 27%
The closer the Lorenz curve is to the diagonal, the more unequal the distribution of income
Indicate whether the statement is true or false
Higher education is a normal good. If its price falls,
a. the quantity of higher education demanded will fall b. the substitution and income effects work in opposite directions c. the income effect is negative d. higher education will satisfy to the law of demand e. real purchasing power will fall
Andre, a wheat farmer, is deciding whether or not to add fertilizer to his crops. If he adds 1 pound of fertilizer per acre, the value of the resulting crops rises from $80 to $100 per acre. According to marginal analysis, Andre should add fertilizer if it costs less than
a. $12.50 per pound. b. $20 per pound. c. $80 per pound. d. $100 per pound.