In the circular flow diagram, money income and revenue ______.
a. are flowing in the same direction
b. form a hub that other items flow around
c. are both elements of the input market
d. represent forms of capital
a. are flowing in the same direction
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When Congress established the Federal Reserve in 1913, what was its main responsibility? When did Congress broaden the Fed's responsibilities?
What will be an ideal response?
A 91-day $10,000 Treasury bill is selling for $9,000. The bill's yield on a discount basis is __________ percent
A) 3.36 B) 3.96 C) 7.91 D) 10.0
Micromania's City Council has been discussing policy options regarding the local taxi company. Citizens have complained that it is a natural monopoly and that its fees are inappropriate. Which of the following would allow the company to stay in business while guaranteeing a "reasonable" taxi price for citizens?
a. average cost pricing b. marginal cost pricing c. laissez-faire pricing d. countervailing pricing e. contestable pricing
When the official dollar price of a foreign currency is lowered, the dollar is being
A) appreciated. B) overvalued. C) undervalued. D) devalued. E) revalued.