The federal funds rate is the interest rate:
a. U.S. financial institutions pay to their best (i.e., largest) depositors.
b. U.S. financial institutions charge their best customers.
c. On U.S. interbank loans.
d. The Federal Reserve changes banks that borrow from it.
e. The World Bank charges to central banks.
.C
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Which of the following is NOT a wage or employment strategy that a union would follow?
A) Set a maximum wage rate such that a shortage of workers will result. B) Set a wage rate such that all workers that want to find a job can find a job. C) Set a wage rate that will maximize the income of its members. D) Set a wage rate that will maximize the income of only some of its members.
Which of the following does not influence the position of the long-run aggregate supply curve?
a. The quantity of raw materials available for production b. The quantity of capital used in production c. The quality of the labor force d. The actual price level e. The size of the labor force