Changing which of the following is a Federal Reserve monetary policy tool?
A) required reserve ratios
B) desired reserve ratios
C) excess reserve ratios.
D) gold and foreign reserve ratios
A
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Country X is the largest producer and exporter of oil in the world. Which of the following is likely to happen if the world demand for oil increases?
A) Country X's labor demand curve will shift to the right. B) Asset prices in Country X will fall. C) Country X's labor supply curve will shift to the left. D) Consumption expenditure in Country X will fall.
The increase in total output that results from a unit increase in one unit of a variable input is equal to the input's:
a. total product. b. marginal product. c. average product. d. marginal cost.
The sign on a church in your neighborhood reads "All are welcome at Sunday Service.". Because the church has limited seating and is usually full, the Sunday Service is
a. a private good. b. a public good. c. a club good. d. a common resource.
Monopoly firms have
a. downward-sloping demand curves, so they can sell as much output as they desire at the market price. b. downward-sloping demand curves, so they can sell only the specific price-quantity combinations that lie on the demand curve. c. horizontal demand curves, so they can sell as much output as they desire at the market price. d. horizontal demand curves, so they can sell only a limited quantity of output at each price.