Which of the following is a public good?
a. Air traffic control. b. National defense.
c. Clean air. d. All of these.
d
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Why might the use of more advanced technology not be a sufficient condition for sustained economic growth?
What will be an ideal response?
The concept of "lender of last resort" is that when
a. lending decreases, the Fed will be the last to resort to higher interest rates. b. borrowing increases, the Fed will be the last to increase lending. c. commercial banks are hesitant to lend, the Fed will step in and increase reserves. d. a borrower has tried everyone else, the Fed will lend directly to them.
Two goods are perfect complements if the marginal rate of substitution between them is constant
a. True b. False Indicate whether the statement is true or false
Discuss the various monetary policy actions taken by the Federal Reserve to deal with the problems occurring in the economy during the Great Recession.
What will be an ideal response?