To say that "there is a scarcity of gold" means that:
a. gold prices will plummet.
b. there is not enough gold to satisfy people's demand.
c. there are a very few substitutes for gold.
d. gold is relatively less expensive than other metals.
e. the demand for gold is changing.
b
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Suppose on any given day the prevailing equilibrium federal funds rate is above the Federal Reserve's federal funds target rate
If the Federal Reserve wishes for the federal funds rate to be at their target level, then the appropriate action for the Federal Reserve to take is a ________ open market ________, everything else held constant. A) defensive; sale B) defensive; purchase C) dynamic; sale D) dynamic; purchase
Suppose you want to get to Orlando, Florida, for the week-long spring break. You can get there in two and one-half days by bus, and back in another two and one-half days. This will cost you $20 round-trip. You can fly there and back in four hours each way. This will cost $200 . Which of the following is not true?
a. It may be economically rational for you to go by plane rather than by bus. b. Depending on what else you can do that week, it may be economically rational for you to not go at all rather than to go by bus. c. The true cost of going to Orlando is either the time or the money you spend traveling, whichever it is you value more. d. The more you'd enjoy Orlando, the more economically rational it becomes for you to fly there instead of taking the bus. e. It is possible that it is rational for you to fly and rational for others to take the bus.