The term "open market operations" refers to the:
a. loan-making activities of commercial banks.
b. effect of expansionary monetary policy on interest rates.
c. operation of competitive markets in the banking industry as the result of deregulation.
d. buying and selling of government securities by the Federal Reserve.
d
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A monopolist will spend resources to advertise its product so long as
A) net profits increase. B) gross profits increase. C) demand increases. D) total revenue increases.
Suppose favorable weather resulted in a bumper crop of oranges in Florida. In the market for oranges
A) the supply curve shifted to the right resulting in a decrease in the equilibrium price. B) the supply curve shifted to the right resulting in an increase in the equilibrium price. C) the demand curve shifted to the left resulting in a decrease in the equilibrium price. D) the demand curve shifted to the right resulting in an increase in the equilibrium price.