Which of the following will increase the money supply?
A) increasing the required reserve ratio
B) an open market sale
C) raising the discount rate relative to the federal funds rate
D) none of the above
D
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Which of the following statements is true of a flexible exchange rate system?
A) Market forces tend to undervalue a currency over time. B) Market forces tend to overvalue a currency over time. C) Market forces do not affect exchange rates between different currencies. D) Market forces tend to push the exchange rate of a currency to market clearing levels over time.
The table above gives the cost schedule for The X Firm. The data show that The X Firm's ________ curve is ________
A) ATC; U-shaped because the firm fixed costs are spread over larger amounts of output and the firm experiences decreasing marginal returns B) AFC; U-shaped because the firm spreads its fixed costs over larger and large amounts of output C) AVC; always declining because costs are divided across ever-increasing amounts of output D) MC; U-shaped because explicit costs exceed implicit costs E) ATC; U-shaped because output increases as costs increase
As demand and supply become more elastic, taxes reduce market output more and raise less tax revenue. ?
Answer the following statement true (T) or false (F)
Total utility is maximized when a consumer has spent all of his or her income and
A) spent equal amounts on all goods. B) marginal utility is maximized. C) the total utility per dollar from all goods is equal. D) the marginal utility per dollar from all goods is equal.