When a market clearing price is determined
A) the exchange between buyers and sellers is voluntary.
B) the exchange between buyers and sellers is directed by outside factors such as the government.
C) the exchange between buyers and sellers benefits only the buyers.
D) the exchange between buyers and sellers benefits only the sellers.
A
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Everything else remaining unchanged, what will happen if the Fed sells government bonds in the open market and borrowed reserves is zero?
A) It will cause both the equilibrium federal funds rate and equilibrium quantity of reserves to fall. B) It will cause the equilibrium federal funds rate to fall, but no change in the equilibrium quantity of reserves. C) It will cause the equilibrium federal funds rate to rise, but no change in the equilibrium quantity of reserves. D) It will cause the equilibrium federal funds rate to rise and the equilibrium quantity of reserves to fall.
One of the two criteria for a resource to be considered capital is that it must:
A) occur naturally. B) be part of a factory or building. C) be a skill or talent possessed by a person. D) be possible to use it to produce other goods and services.