Suppose that a disease that affects people who consume beef has been discovered in the United States. One likely result is:
A. a decrease in demand for beef.
B. an increase in buyers' reservation prices for beef.
C. a decrease in demand for chicken.
D. a decrease in the quantity demanded of beef.
Answer: A
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An open market purchase of government securities by the Fed will cause which of the following?
A) an excess quantity of reserves supplied and a reduction in the federal funds rate B) an excess quantity of reserves demanded and an increase in the federal funds rate C) an excess quantity of reserves demanded and a reduction in the federal funds rate D) an excess quantity of reserves supplied and an increase in the federal funds rate
In part, microeconomics is concerned with the study of
A) unemployment and economic growth. B) the Federal Reserve's policies. C) the effect government regulation has on the price of a product. D) national output of goods and services.