The present membership in the Federal Reserve System includes
a. all the commercial banks in the nation.
b. less than half of the commercial banks in the nation.
c. only the Federal Reserve Banks and their branches.
d. commercial banks, savings & loans, and credit unions.
b. less than half of the commercial banks in the nation.
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When the Fed sells government securities
A) reserves decrease, leading to a decrease in the money supply by an amount more than the sale of the government securities. B) reserves increase, leading to a increase in the money supply by an amount more than the sale of the government securities. C) reserves increase, leading to a decrease in the money supply by an amount more than the sale of the government securities. D) reserves decrease, leading to a increase in the money supply by an amount more than the sale of the government securities.
The ATC curve and the AFC curve for information products (e.g., software) in the short run are
A) downward sloping. B) horizontal. C) upward sloping. D) vertical.