Which statement is true?
A. The Fed failed to perform its lender of last resort job after the emergency created by the terrorist attacks on 9/11.
B. Thanks to the Check Clearing for the 21st Century Act, the use of checks as a medium of exchange should disappear within a few years.
C. The Chinese government and central bank has a significant influence over long-term interest rates in the U.S.
D. The Fed changes the federal funds rate in exactly the same manner in which it changes the discount rate.
C. The Chinese government and central bank has a significant influence over long-term interest rates in the U.S.
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When firms in a perfectly competitive market are earning an economic profit, in the long run
A) no new firms will enter the market. B) new firms will enter the market. C) firms will exit the market. D) the long-run average cost curve shifts downward. E) the initial firms continue to earn an economic profit.
What is the substitution effect of a wage increase? What is the income effect of a wage increase? Explain under what conditions the labor supply curve will be upward sloping and when it will be downward sloping
What will be an ideal response?
All of the following would cause the aggregate demand curve to shift EXCEPT
A) a rise in real interest rates. B) an increase in taxes. C) improvements in economic conditions in other countries. D) a decrease in the price level.
Economic consequences of Tea Act (1773) included a/an __________ in the price of tea in the colonies and a/an ___________ in the revenues of colonial tea wholesalers
a. increase; increase b. increase; decrease c. decrease; increase d. decrease; decrease