Which of the following goods is most likely to have the lowest price elasticity?
A) movie tickets
B) DVD rentals
C) gasoline
D) pasta
C
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The Fed's "dual mandate" is to achieve ________
A. a government budget surplus and low interest rates B. low inflation and maximum employment C. a stable quantity of money and stable prices D. zero unemployment and a stable means of payment
Property and casualty insurance companies are supervised and regulated by the
A) Federal Home Loan Bank Board. B) Securities and Exchange Commission. C) states in which they operate. D) Federal Reserve.
A price index:
A. measures how much the cost of a market basket has risen or fallen relative to the cost in a base time period. B. summarizes the changes in the cost of living for only rural consumers. C. allows us to see clearly the changes in the cost of a market basket daily. D. is generally only used with consumer goods and services
Monetary and fiscal policymaking that is carried out in response to a pre-set rule and does NOT respond to changes in economic activity is known as
A. discretionary policymaking. B. nondiscretionary policymaking. C. active policymaking. D. Keynesian policymaking.