The Monetary Control Act of 1980 extended the Fed's authority to
impose required reserve ratios on all depository institutions
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If the government runs a deficit, which of the following will be true?
a. T > G - TR b. T < G - TR c. T > G + TR d. T < G + TR
If the total cost function is TC = Q3 - 6Q2 + 14Q + 75, would you expect the bottom of the ATC curve to be greater than, less than, or equal to 3?
What will be an ideal response?
Price indexes like the CPI are calculated using a base year. The term base year refers to:
A. the first year that price data are available. B. any year in which inflation was higher than 5 percent. C. the most recent year in which the business cycle hit the trough. D. an arbitrarily chosen reference year.
Which of the following can create demand-pull inflation?
A. Excessive aggregate spending. B. Sharply rising oil prices. C. Higher labor costs. D. Recessions and depressions.