Suppose a family wants to save $60,000 for a child's tuition. The child will be attending college in 18 years. For simplicity, assume the family is saving for a one-time college tuition payment. If the interest rate is 6%, then about how much does this family need to deposit in the bank today?

If the U.S. Surgeon General announced that increased grapefruit juice consumption could help prevent heart attacks, what would happen to the equilibrium price and quantity of grapefruit juice?

A) Price and quantity both increase. B) Price and quantity both decrease. C) Price increases but quantity decreases. D) Price decreases but quantity increases.

Which of the following statements is (are) correct? Over the past 20 years, the Federal Reserve

a. has only targeted monetary aggregates. b. has varied between an emphasis on interest rate control and targeting of monetary aggregates. c. has only emphasized control of the interest rate. d. None of the above