The principal policy-maker of the Federal Reserve is the
A) Chairman of the Federal Reserve Board of Governors.
B) president of the New York Federal Reserve bank.
C) president of the Washington, D.C. Federal Reserve bank.
D) Comptroller of the Currency.
A
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The procedure of determining the present value of payments to be received in the future is known as
a. compounding b. amortizing c. perpetuating d. nominalizing e. discounting
As viewed by economists, a public good ______.
a. can be controlled only by the government b. is hard to prevent people from using c. cannot be physically touched or moved d. is purchased with tax revenue
Which of the following is necessary for a system of marketable pollution permits to lead to beneficial trades between polluting companies?
A. Companies must have common abatement costs. B. There must be differences in abatement costs between companies. C. Company owners must have a social conscience and must be devoted to pollution abatement. D. The government must direct companies toward beneficial trades.
An example of an acquired comparative advantage is
A. United States companies selling to other countries chemical products that cannot be sold in the United States. B. the United States producing more agricultural products than other countries because land is more abundant in the United States than in other countries. C. the United States purchasing coconuts from other countries, because they cannot be produced in the United States. D. United States consumers buying television sets produced in Japan because Japanese companies have a reputation for producing a higher-quality TV than those produced in the United States.