During World War II, whenever interest rates would ________ and the price of bonds would begin to ________, the Fed would make open market purchases
A) rise; rise
B) rise; fall
C) fall; rise
D) fall; fall
B
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The marginal productivity theory of income distribution was developed by
A) William Stanley Jevons. B) George Akerlof. C) John Bates Clark. D) Edward Lazear.
A market maker faces the following demand and supply for widgets. Eleven buyers are willing to buy at the following prices: $15, $14, $13, $12, $11, $10, $9, $8, $7, $6, $5 . Eleven sellers are also willing to sell at the same prices. If the market maker bought and sold at the equilibrium price, what is his profit
a. $1 b. $2.5 c. $3 d. $0
An increase in M or an increase in V, other things equal, would definitely increase: a. the price level
b. real GDP. c. nominal GDP. d. unemployment.
A monopolist will maximize profits by producing a quantity specified by setting marginal revenue equal to marginal cost.
Answer the following statement true (T) or false (F)