Operations of the Trading Desk of the Federal Reserve Bank of New York are typically conducted
A. no more often than once per month.
B. within a one-hour period during each day.
C. once a year.
D. no more often than once per week.
Answer: B
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If money demand is extremely sensitive to changes in the interest rate, the money demand curve becomes almost horizontal. If the Fed expands the money supply under these circumstances, then the interest rate will
A) change very little and investment and consumer spending will change very little. B) rise substantially and investment and consumer spending will rise substantially. C) fall substantially and investment and consumer spending will fall substantially. D) fall substantially and investment and consumer spending will change very little.
Leugers Custom Cabinetmakers is currently operating at a profit while producing four custom cabinets per week. At that output level, marginal cost exceeds marginal revenue. In order to maximize profit, Leugers should
a. decrease output b. increase output c. leave output at four cabinets per week d. either increase or decrease output, depending on its level of fixed costs e. either increase or decrease output, depending on its level of variable costs