Suppose that the FOMC decides to lower its target for the federal funds rate. How can it use open market operations to accomplish this goal? How can the FOMC use open market operations to raise its target for the federal funds rate? Use a graph of the federal funds market to illustrate your answers. Does it matter for your answer whether reserves are scarce? Briefly explain.

If the standard quota of state Y is 78.24, then which of the following are possible apportionments to state Y under Webster’s method?

(a) 78 or 79

(b) 76 or 77

(c) 80 or 81

(d) 77, 78, 79 or 80

(e) All of the above are possible

Our StrBlobPtr class does not define the copy constructor, assignment operator, or a destructor. Why is that okay?

Explain the difference between a Lewis structure and a molecular formula.

Tall Latt és and the Real Exchange Rate between the Euro and the Dollar. According to the Economist , in early 2004 the average price of a tall latté in Starbucks in the United States was $2.80. In the countries that use the euro, the average price was 2.93 euros. Because the exchange rate at this time was 0.79 euro per dollar, the dollar price of lattés in the euro area was $3.70. (Related to Application.)

a. At what exchange rate between the dollar and the euro would a latté cost the same in the euro area as it did in the United States?