A characteristic function is:
a. one that identifies negotiations which depend on the characteristics of the bargainers.
b. one that gives the value each possible coalition of a group's members can create by operating independently.
c. one that identifies the most beneficial price for the buyer involved in a transaction.
d. one that identifies the most beneficial price for the seller involved in a transaction.
B
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Seigniorage is government revenue raised by
A) a tax on transactions. B) issuance of treasury bonds. C) issuance of money. D) lump-sum taxation.
The Fed can reduce the federal funds rate by
a. decreasing the money supply. To decrease the money supply it could sell bonds. b. decreasing the money supply. To decrease the money supply it could buy bonds. c. increasing the money supply. To increase the money supply it could sell bonds. d. increasing the money supply. To increase the money supply it could buy bonds.