Which of the following macroeconomic variables does not vary much over the seasons?
A) The nominal money stock
B) The unemployment rate
C) The real wage
D) Average labor productivity
C
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Which of the following statements about M1 and M2 is not true?
A) Transaction accounts are part of M1. B) M2 is more liquid than M1. C) M2 is larger than M1. D) Transaction accounts are part of M2.
Most economists oppose ________ laws, which set interest rate ceilings.
Fill in the blank(s) with the appropriate word(s).
If the Fed chooses to sell bonds on the open market, it is attempting to:
a) lower interest rates using expansionary monetary policy. b) lower interest rates using contractionary monetary policy. c) raise interest rates using expansionary monetary policy. d) raise interest rates using contractionary monetary policy.
During a recession you would expect the difference between the commercial paper rate and the yield on U.S. T-bills of the same maturity to:
A. be the same since their maturities are the same. B. fluctuate rarely. C. increase reflecting the possibility of higher default risk for commercial paper. D. decrease.