In the United States, monetary policy is determined by
A. private citizens.
B. the Treasury Department.
C. the Federal Reserve.
D. the president.
Answer: C
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A mutual fund
a. is a financial institution that stands between savers and borrowers. b. is a financial intermediary. c. allows people with small amounts of money to diversify their holdings. d. All of the above are correct.
A farmer can grow soy or sorghum. If the price of soy increases, the opportunity cost of growing sorghum ______, shifting the supply curve of sorghum ______.
Fill in the blank(s) with the appropriate word(s).
Economic goods are
A) abundant goods, about which we must constantly make decisions about their best use. B) all imaginable items from which individuals derive satisfaction or happiness. C) goods that are scarce, for which the quantity demanded exceeds the quantity supplied at a zero price. D) goods that are scarce, for which the quantity demanded exceeds the quantity supplied at any price.
Refer to the above data. If exports should decrease by $20 billion at each level of GDP, other factors constant, then the equilibrium GDP for the economy will be:
A. $650 billion
B. $550 billion
C. $500 billion
D. $450 billion