________ by the Fed means that the Fed ________
A) Credit easing; bought private securities from financial institutions
B) Credit easing; made loans directly to home buyers
C) Credit easing; tried to lower long-term interest rates
D) Quantitative easing; required private banks to increase their lending to home buyers
E) Quantitative easing; decreased in the required reserve ratio
A
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Suppose the government of Portico wants to discourage the consumption of tobacco among its citizens. Which of the following strategies would it adopt?
a. Taxing the buyers with relatively elastic demand b. Taxing the buyers with relatively inelastic demand c. Taxing the sellers with relatively inelastic supply d. Taxing the buyers with perfectly inelastic demand
Monetarists believe
A) Real GDP is not determined by M in the long run. B) velocity is constant. C) the SRAS curve is vertical. D) a and c E) a, b and c