The economic effects of a quota are identical to those of a tariff
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following is the best definition of money?
a. Anything generally accepted as payment for goods or repayment of debt b. Anything that can be converted to a liquid asset c. A national currency that is backed by gold or other precious metals d. Paper or coin currency that is produced by the Federal Reserve
For international trade to benefit a country, it must benefit all citizens of that country
a. True b. False Indicate whether the statement is true or false
If the Fed decreases the discount? rate, relative to the federal funds? rate, then this
a. would cause the money supply to decrease. b. would cause the required reserve ratio to increase. c. would decrease the cost of funds for institutions borrowing from the Fed. d. would increase the cost of funds for institutions borrowing from the Fed.
What are the twin goals of the Federal Reserve Bank?
a) Low unemployment and zero inflation. b) No unemployment and stable prices. c) Low unemployment and stable prices. d) No unemployment and zero inflation.