The FOMC directive does not contain a target
A) growth rate for M1.
B) growth rate for M2.
C) growth rate for M3.
D) federal funds interest rate.
A
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In the competitive market for balloon rides, marginal social cost equals marginal social benefit when 3,000 balloon rides a day are taken and the price of a ride is $130. Which of the following statements is TRUE?
A) There is a free-rider problem. B) Too many rides are available. C) Too few rides are available and the price of a balloon ride is too high. D) The efficient quantity of balloon rides is 3,000 a day.
A central bank may be reluctant to see its currency appreciate because
A) rising prices of imports will contribute to inflation. B) falling prices of exports will contribute to inflation. C) the country's goods may become uncompetitive in world markets. D) the country's monetary base will increase.