Which of the following is an example of capital?
a. a cheeseburger dinner
b. a construction worker
c. petroleum
d. a factory
e. an acre of farmlqnd
Answer: d. a factory
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When the Fed purchases government securities, it:
a. increases banks' reserves and makes possible an increase in the money supply. b. decreases banks' reserves and makes possible a decrease in the money supply. c. automatically raises the discount rate. d. uses discounting operations to influence margin requirements. e. has no effect on either the money supply or the discount rate.
Which of the following is considered to be the major cause of the recession of 2001?
a. A decrease in defense spending b. A spike in oil prices and the collapse of the housing bubble c. A decline in oil prices and the collapse of the housing bubble d. Federal Reserve policy e. None of the above.