Open market operations refer to the Fed's transactions with ________
A) households B) private banks C) state governments D) firms
B
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If a rise in anticipated inflation produces for some reason a less-than-equal rise in the nominal interest rate, this ________ the costs of anticipated inflation by ________ saving
A) reduces, encouraging B) reduces, discouraging C) increases, encouraging D) increases, discouraging
The degree to which an economic system approaches a market economy depends on the degree to which
A. economic choices are made through the free interaction of buyers and sellers in the marketplace. B. there are monopolies in the marketplace. C. people have a high standard of living. D. advanced technology is used.
If a $1 increase in price leads to a $1 decrease in total revenue, then demand must be elastic
Indicate whether the statement is true or false
A severe freeze has once again damaged the Florida orange crop. The impact on the market for oranges will be a leftward shift in
a. demand as consumers try to economize because of the shortage. b. both the supply and demand curves. c. the supply curve. d. the supply curve and a rightward shift in the demand curve, which will result in a higher price.