With respect to controlling the money supply, the law requires the Fed to take orders from:
a. the President.
b. the Speaker of the House.
c. the Secretary of the Treasury.
d. no one?the Fed is an independent agency.
d
You might also like to view...
If a single firm can meet the entire market demand at a lower average total cost than a larger number of smaller firms, the single firm is
A) price discriminating. B) a natural monopoly. C) a legal monopoly. D) efficient when profit maximizing. E) an ownership-of-the-market monopoly.
Assume there is a surplus in the market for hybrid automobiles. Which of the following statements correctly describes this situation?
A) Some consumers will be unable to obtain hybrid automobiles at the market price and will have an incentive to offer to buy the product at a higher price. B) The supply of hybrid automobiles is greater than the demand for hybrid automobiles. C) the surplus will cause an increase in the equilibrium price of hybrid automobiles. D) The price of hybrid automobiles will fall in response to the surplus; as the price falls the quantity demanded will increase and the quantity supplied will decrease.
One reason that lawyers might prefer a contingent contract when representing a plaintiff in a tort case is that
A) lawyers are risk neutral. B) diversification of many cases allows lawyers to reduce risk. C) lawyers are typically confident about winning every case. D) hourly rates for lawyers are usually very low.
An isocost line reveals the
A) costs of inputs needed to produce along an isoquant. B) costs of inputs needed to produce along an expansion path. C) input combinations that can be purchased with a given outlay of funds. D) output combinations that can be produced with a given outlay of funds.