If Treasury deposits at the Fed are predicted to increase, the manager of the trading desk at the New York Fed bank will likely conduct ________ open market operations to ________ reserves
A) defensive; inject
B) defensive; drain
C) dynamic; inject
D) dynamic; drain
A
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Which of the following statements is true?
a. b and d. b. Total revenue is maximized when elasticity is one. c. Goods are said to be price inelastic when the elasticity is greater than two. d. Demand for milk is more elastic than demand for football tickets. e. Demand for 5-cent candy is more elastic than demand for sweaters.
The term "socialism" refers to which of the following?
a. An economic system characterized by voluntary allocation. b. A religion centered on community interaction. c. An economic system characterized by private ownership of resources, and decentralized market-price allocation. d. An economic system characterized by government ownership of resources and centralized allocation.