Open market operations refer to the purchase or sale of ________ to control the money supply.
A) corporate bonds and stocks by the Federal Reserve
B) U.S. Treasury securities by the Federal Reserve
C) corporate bonds and stocks by the U.S. Treasury
D) U.S. Treasury securities by the U.S. Treasury
B) U.S. Treasury securities by the Federal Reserve
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Refer to Figure 7-5. With insurance and a third-party payer system, the equilibrium quantity of medical services is
A) 400. B) 800. C) 1,200. D) > 1,200.
The main difference between a sterilized intervention and unsterilized intervention in the foreign exchange market is:
A) a sterilized intervention is coordinated with other nations B) an unsterilized intervention does not change the exchange rate C) an unsterilized intervention does not change the monetary base D) a sterilized intervention does not change the monetary base
Refer to Figure 10.7. A movement from point B to point D could be caused by
A) an increase in the target interest rate. B) an increase in consumer confidence. C) an increase in the term structure effect. D) a decrease in the expected rate of inflation.
The market demand for wheat is Q = 100 - 2p + 1pb + 2Y. If the price of wheat, p, is $2, and the price of barley, pb, is $3, and income, Y, is $1000, the income elasticity of wheat is
A) 2 ? (1000/2099 ). B) 2. C) 1/2 ? (1000/2099 ). D) cannot be calculated from the information provided.