Other things being equal, when the Fed buys U.S. government securities
A) the quantity of paper currency and coins in circulation expands by more than the amount of the Fed's purchase.
B) the Fed's total assets and total liabilities immediately expand by exactly the amount of the Fed's purchase.
C) the U.S. Treasury must immediately issue new securities to replace the securities that the Fed has removed from the market.
D) the quantity of deposits in the U.S. banking system expands by less than the amount of the Fed's purchase.
B
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According to the Texas Transportation Institute, the typical U.S. commuter wastes approximately how much time per year due to traffic congestion?
A) 14 hours B) 22 hours C) 47 hours D) 96 hours
In the presence of asymmetric information, the only contract that results in production efficiency and no moral hazard is the one in which
A) the agent receives a fixed fee. B) the principal receives a fixed rent. C) profit is shared. D) revenue is shared.