A 1977 amendment to the Federal Reserve Act of 1913
a. requires the Federal Reserve to place more weight on promoting price stability than on promoting maximum employment.
b. requires the Federal Reserve to place more weight on promoting maximum employment than on promoting price stability.
c. requires the Federal Reserve to place equal weight on promoting price stability and maximum employment.
d. says the Federal Reserve should promote price stability and maximum employment, but does not specify how the Federal Reserve should weight these goals.
d
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The equilibrium of supply and demand in a market maximizes the total benefits to buyers and sellers of participating in that market
a. True b. False Indicate whether the statement is true or false
Which of the following areas of study typifies microeconomics as opposed to macroeconomics?
a. the impact of minimum-wage laws on employment in the fast food industry b. the effect of changes in household saving rates on the growth rate of national income c. the impact of faster money growth on the rate of inflation d. a comparison of alternative tax policies and their respective impacts on the rate of the nation's economic growth
Describe the comparable worth controversy?
What will be an ideal response?
The amount of pleasure or satisfaction derived from consumption of a good is called
A) need. B) utility. C) consumer surplus. D) demand.