The principal source of borrowed reserves is the
A. Federal Reserve System.
B. United States Treasury.
C. federal funds market.
D. Federal Home Loan Bank Board.
C. federal funds market.
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Refer to Table 4-6. The table above lists the marginal cost of polo shirts by Marko's, a firm that specializes in producing men's clothing. If the market price of Marko's polo shirts is $30, Marko's will produce
A) 0 shirts. B) 1 shirt. C) 3 shirts. D) 4 shirts.
All of the following government actions create barriers to entry EXCEPT
A) limiting the number of airlines that may operate at an airport. B) granting a patent to a drug company. C) requiring a pizza parlor to get a business license. D) giving a power company exclusive use of the city's transmission lines.
During the three decades immediately following World War II,
a. conservative forces successfully blocked any expansion of New Deal-type programs. b. the prevailing liberal ideology led to the passage of legislation that increased Social Security benefits, created Medicare, and increased the minimum wage. c. disillusionment with government led to deregulation of airlines and other industries. d. most policy makers and the general public rejected Keynesian policies.
According to classical economists, government intervention is:
a. necessary to maintain a stable price level in the long run. b. necessary to maintain a stable price level in the short run. c. necessary to maintain full employment in the long run. d. necessary to maintain full employment in the short run. e. not necessary to maintain full employment.