The Federal Reserve System is an
A. agency run by popularly elected officials.
B. agency that is under the direction of the president.
C. agency that is controlled by Congress.
D. independent agency of government.
Answer: D
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________ when its inventory increases
A) A firm's total product curve is likely to shift upward B) A firm's labor demand curve is likely to shift to the left C) A firm's cost curve is likely to shift downward D) A firm's labor demand curve is likely to shift to the right
The marginal principle ________ to the determination of the efficient level of pollution abatement because ________.
A. applies; there are tradeoffs in terms of the costs and benefits of pollution abatement B. applies; pollution abatement causes greater harm than benefits C. does not apply; it is immoral to trade a dirtier environment for material wealth D. does not apply; the costs and benefits of pollution abatement cannot be measured
Which statement best characterizes the classical economists' view of saving and investment?
A. Saving exceeds investment. B. Saving is less than investment. C. Saving equals investment. D. Saving and investment are not related to one another.
Explain why a government would impose an import tariff when domestic consumers suffer more than producers gain
What will be an ideal response?