Which of the following both increase the money supply?
a. an increase in the discount rate and an increase in the interest rate on reserves
b. an increase in the discount rate and a decrease in the interest rate on reserves
c. a decrease in the discount rate and an increase in the interest rate on reserves
d. a decrease in the discount rate and a decrease in the interest rate on reserves
d
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The short-run aggregate supply curve can slope upward because
A) prices are fixed in the short run. B) wages adjust immediately to changing economic circumstances. C) producers have misperceptions about the aggregate price level. D) prices adjust instantaneously.
The OLS residuals
A) can be calculated using the errors from the regression function. B) can be calculated by subtracting the fitted values from the actual values. C) are unknown since we do not know the population regression function. D) should not be used in practice since they indicate that your regression does not run through all your observations.