The Federal Reserve makes decisions regarding:
A. fiscal policy only.
B. structural policy only.
C. monetary and fiscal policy.
D. monetary policy only.
Answer: D
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Expansionary fiscal policy includes an increase in government spending, a decrease in taxes or some combination of the two
Indicate whether the statement is true or false
Which of the following statements about reserves is correct?
a. When an economy is in recession, banks are likely to hold a higher proportion of reserves. b. When an economy is in recession, banks are likely to hold a lower proportion of reserves. c. When an economy is in recession, banks are likely to hold the same proportion of reserves. d. When an economy is in recession, banks are likely to hold no reserves.
Which of the following is most likely a quote from the economist John Maynard Keynes?
a. “[Economics] is a doctrine rather than a method, an apparatus of the mind, a technique of thinking, which helps its possessor to draw correct conclusions.” b. “[Economics] is neither a method nor a doctrine, an apparatus of the mind, a technique of thinking, which helps its possessor to draw correct conclusions.” c. “[Economics] is a method rather than a doctrine, an apparatus of the mind, a technique of thinking, which helps its possessor to draw correct conclusions.” d. “[Economics] is both a method and a doctrine, an apparatus of the mind, a technique of thinking, which helps its possessor to draw correct conclusions.”
The market structure of perfect competition exists when
A) there are a small number of interdependent firms that constitute the entire market. B) there is a single producer of a product. C) there are many producers of differentiated products. D) there are many producers of a homogeneous product.