Between 1830 and 1860, the number of miles of railroad in operation increased by
a. roughly 100 percent.
b. roughly 500 percent.
c. roughly 750 percent.
d. over 1000 percent.
d. over 1000 percent.
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Suppose on any given day there is an excess supply of reserves in the federal funds market
If the Federal Reserve wishes to keep the federal funds rate at its current level, then the appropriate action for the Federal Reserve to take is a ________ open market ________, everything else held constant. A) defensive; sale B) defensive; purchase C) dynamic; sale D) dynamic; purchase
What is TRUE of the price elasticity of demand faced by a monopoly firm?
A) Demand is inelastic. B) Demand is more elastic at lower prices and more inelastic at higher prices. C) Demand is perfectly elastic because the monopolist has no competition. D) Demand becomes more elastic as the range of imperfect substitutes expands.