The Eurocurrency market grew due to a lack of regulation, which permits greater efficiency in providing banking services

Since the early 1990s, the Fed has conducted monetary policy by setting a target for the

A) level of borrowed reserves. B) monetary base. C) federal funds rate. D) inflation rate.

Imposition of an output tax on all firms in a competitive industry will result in

A) a downward shift in each firm's marginal cost curve. B) a downward shift in each firm's average cost curve. C) a leftward shift in the market supply curve. D) the entry of new firms into the industry. E) higher profits for the industry as price rises.