Among its duties, the Federal Reserve ________.
A. collects taxes from the commercial banks
B. is responsible for regulating and supervising the banks
C. uses loans from the commercial banks to increase the money supply
D. provides deposit insurance for commercial bank customers
Answer: B
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"The recent hurricanes in Florida are bringing financial gain to California citrus growers. Due to extensive damage to the Florida citrus crop, California citrus products are commanding their highest prices ever"
Which of the following statements best explains the economics of this quotation? A) The supply of Florida oranges decreased, causing their price to increase, which then increased the demand for substitute California oranges. B) The supply of Florida oranges decreased, causing the supply of California oranges to increase and the price of California oranges to rise. C) The demand for Florida oranges decreased because of the hurricanes, causing a greater demand for California oranges and an increase in the price of California oranges. D) The demand for Florida oranges decreased, causing their prices to rise, therefore increasing the demand for California oranges.
Which interest rates is most relevant in determining aggregate expenditures?
A) federal funds rate B) short-term real interest rate C) long-term nominal interest rate D) long-term real interest rate
Mutual interdependence is an important characteristic of the ________ market structure(s)
a. monopoly b. oligopoly c. monopolistic competition d. perfect competition e. perfect competition and monopolistic
The Cournot Model of Oligopoly assumes that
A) firms decide what quantity to produce. B) firms make their decisions simultaneously. C) firms do not cooperate. D) All of the above.