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The interest rate on reserves is the interest rate that the Fed pays banks for holding reserves on deposit at the Fed. For many years, open market operations were the Fed’s primary tool for monetary policy. However, since October 2008, it relies more on interest on reserves.A decrease in t...
Read MoreExample | M1 | M2 |
---|---|---|
Megan has $6,000 in a six-month certificate of deposit (CD). | ||
Larry has $30,000 in a money market account. | ||
Felix has $1,200 in a checking account. |
Identify whether each of the following examples belongs in M1 or M2. If an example belongs in both, be sure to check both boxes.ExampleM1M2Megan has $6,000 in a six-month certificate of deposit (CD).Larry has $30,000 in a money market account.Felix has $1,200 in a checking account.Points:0.83 / 1Clo...
Read MoreDespite the fact that personal possession of currency is not allowed by U.S. prisons, in reality, incarcerated people still exchange goods and services. Until 2003, the year in which the U.S. government banned smoking in federal penitentiaries, cigarettes were the preferred medium of exchange among ...
Read More1. | A $1 bill |
2. | The funds in a savings account |
3. | Your condo |
4. | A bond issued by a publicly traded company |
Asset | |
---|---|
Most Liquid | |
Second-Most Liquid | |
Third-Most Liquid | |
Least Liquid |
Select the assets in order of their liquidity, from most liquid to least liquid.AssetMost Liquid$1.00 bill Second-Most LiquidFunds held in a savings account Third-Most LiquidBond Least LiquidCondo Points:1 / 1Close ExplanationExplanation:Liquidity ...
Read MoreRole of Money | Medium of Exchange | Unit of Account | Store of Value |
---|---|---|---|
Felix can easily determine that the price of the laptop is more than the price of the vacation. | |||
Felix has $1,574 in his checking account. | |||
Felix writes a check for $1,299. |
Hint: Select each role only once.Role of MoneyMedium of ExchangeUnit of AccountStore of ValueFelix can easily determine that the price of the laptop is more than the price of the vacation.Felix has $1,574 in his checking account.Felix writes a check for $1,299.Points:1 / 1Close ExplanationExplanatio...
Read MoreConsider two hypothetical states that operate under different laws governing labor unions.The following graph shows the labor market in a state in the West. Initially, the market-clearing wage in this state is $8.00 per hour.Now, suppose that the General Assembly in this western state passes a law t...
Read MoreUse the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph.0125250375500625750875100020.017.515.012.510.07.55.02.50WAGE (Dollars per hour)LABOR (Thousands of workers)Demand Supply Graph Input ToolMarket for Labor W...
Read MoreWhy might some firms choose to pay workers a wage above the market equilibrium, even with a surplus of labor in the market? Check all that apply.Paying higher wages tends to reduce the average experience level of a firm's workers.Higher wages cause workers to shirk more of their responsibilitie...
Read MoreWage | Labor Demanded | Labor Supplied | Shortage or Surplus? |
---|---|---|---|
(Thousands of workers) | (Thousands of workers) | ||
$10.00 | Surplus |
5. Minimum-wage laws and unemploymentConsider the labor market defined by the supply and demand curves plotted on the following graph.Use the calculator to help you answer the following questions. You will not be graded on any changes you make to the calculator.02004006008001000120014001600161412108...
Read MoreWage | Labor Demanded | Labor Supplied | Shortage or Surplus? |
---|---|---|---|
(Thousands of workers) | (Thousands of workers) | ||
$7.50 |
Which of the following statements are true? Check all that apply.In the absence of price controls, a shortage puts upward pressure on wages until they rise to the equilibrium.Binding minimum wages cause frictional unemployment.In this labor market, a minimum wage of $7.50 is binding.If the mini...
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