Notes are debt securities which have a maturity period of:
a. 0-5 years.
b. 10-15 years.
c. 0-1 year.
d. 10-20 years.
e. 1-10 years.
e
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If the marginal cost of an activity exceeds the marginal benefit, then
A) the activity will occur because the high marginal cost means it must be highly valued. B) the forgone alternatives' costs must be increased. C) an alternative action will be selected. D) the person must concentrate on the activity's total benefits.
"Higher ethanol production definitely and directly raises the price of corn," said USDA economist Ephraim Leibtag. In the long run in the corn market, what is TRUE if the production of ethanol increases?
A) Existing corn farmers will exit the market and decrease the market price. B) New corn farmers will enter the market and increase the market price. C) Existing corn farmers will exit the market and increase the market price. D) New corn farmers will enter the market and decrease the market price.
Because central banks have not been willing to give up their option of intervening in the foreign exchange market, the current international financial system can best be described as a
A) variable-pegged exchange rate system. B) moving-pegged exchange rate system. C) hybrid of a fixed exchange rate and flexible exchange rate system. D) flexible-exchange, dollar-pegged exchange rate system.
Describe, in general terms, the lags in the effects of monetary policy on interest rates, output, and prices. Be sure to note how long it takes each variable to respond to policy changes
What will be an ideal response?