A voucher is
A) the production of a good by some public institution.
B) a payment that government makes to private producers.
C) a token that government provides to households to use in purchasing a specific good.
D) a permit to pollute.
E) a tax that is imposed on consumers rather than producers.
C
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Changes in the federal funds rate usually result in
A) changes in both short-term and long-term interest rates with more of an effect on short-term interest rates. B) changes in both short-term and long-term interest rates with equal effect on both. C) changes in both short-term and long-term interest rates with more of an effect on long-term interest rates. D) no change in either short-term or long-term interest rates.
How were open market operations conducted prior to 1935?
A) They were carried out by the Federal Open Market Committee. B) They were carried out under the direction of the Secretary of the Treasury. C) They were carried out by the district Federal Reserve banks. D) They were carried out by the Banking Committee of the House of Representatives.
With asymmetric information among consumers and positive search costs, a firm may
A) raise its price above the monopoly price. B) price at the monopoly level. C) price at the competitive level. D) None of the above.
When graphed, total variable cost must
a. first slope down and then slope up b. always have a positive slope c. always have a negative slope d. first slope up and then slope down e. be a horizontal line