The creation of a Federal Reserve System was recommended by
A. A member of Congress.
B. The U.S. Treasury.
C. The National Monetary Commission.
D. The Federal Bureau of Investigation.
Answer: C
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________ in the desired reserve ratio will ________ the money multiplier
A) An increase; have no effect on B) An increase; decrease C) A decrease; decrease D) A decrease; will have no effect on
In the short run, a firm should shut down if its economic loss from operating exceeds its total fixed cost
a. True b. False Indicate whether the statement is true or false
If the marginal revenue of the next unit a firm produces is $50 and its marginal cost is $35, a firm should:
A. increase production. B. reconsider past production decisions. C. decrease production. D. hold production constant.
Answer the following questions true (T) or false (F)
1. The market demand curve facing a monopolist is more elastic than the market demand curve facing a monopolistic competitor. 2. Joe Santos owns the only pizza parlor in a small town that is also home to a McDonald's, a Taco Bell, and a Kentucky Fried Chicken. Using a broad definition of a monopoly, Joe has a monopoly if the menu items sold at the other restaurants are not considered close substitutes for the food sold at the pizza parlor. 3. A snack shop inside a hotel in a busy city has a monopoly on food sales if it is the only food vendor in the hotel that is open 24 hours a day.