The FOMC meets approximately eight times per year and at these meetings they
a. set a target federal funds interest rate.
b. set a target money supply.
c. set a target employment target.
d. All of the above
e. None of the above
A
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Which of the following will occur if the Fed buys $10 million of securities from the University National Bank?
A) The Fed will pay by increasing the University National Bank's deposit account with the Fed by $10 million. B) The University National Bank has $10 million more in securities. C) The Fed will pay by decreasing the University National Bank's deposit account with the Fed by $10 million. D) The University National Bank has $10 million less in excess reserves.
Scott used $4,000,000 from his savings account that paid an annual interest of 5% to purchase a hardware store. After one year, Scott sold the business for $4,100,000 . His accounting profits is:
a. $300,000 b. $100,000 c. $80,000 d. $20,000