Related to the Economics in Practice on p. 544: In February 2018, a new Chair of the Board of Governors of the Federal Reserve System was confirmed. This person is
A. the first Fed chair since Paul Volker to come to the position without a PhD in Economics.
B. the first person to serve in this position who had never previously been employed in the Federal Reserve System.
C. the first Democrat to serve in this position.
D. all of the above
Answer: A
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The minimum point on the average variable cost curve is called the loss-minimizing point
Indicate whether the statement is true or false
Which of the following economic indicators is used by the World Bank to classify countries as industrial or emerging economies?
a. GDP b. Rate of inflation c. Net exports d. Per capita income e. Budget deficits
Long-run economic growth policies focus on:
A. Shifting the aggregate demand curve to the left. B. Moving the economy along the production possibilities curve. C. Shifting the production possibilities curve outward. D. Moving the economy onto the production possibilities curve.
Durable consumer goods are goods that last more than
A. three years. B. five years. C. seven years. D. one year.