The most commonly used tool by the Federal Reserve to control the monetary base is
a. changes in the discount rate.
b. changes in tax rates on commercial banks.
c. changes in legal required reserve ratios.
d. open market operations.
D
Economics
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Suppose a competitive firm is paying a wage of $12 an hour and sells its product at $3 per unit. Assume that labor is the only input. If the last worker hired increases output by three units per hour, then to maximize profits the firm should
A) hire additional workers. B) not change the number of workers it currently hires. C) lay off some of its workers. D) There is not enough information to answer the question.
Economics
Today, the share of international trade in U.S. GDP is
A) almost 0 percent. B) about 10 percent. C) close to 30 percent. D) more than 99 percent.
Economics