Which of the following best describes the services provided by the Federal Reserve?
a. The Federal Reserve provides banking services to commercial banks and other depository institutions but does not provide banking services to the federal government.
b. The Federal Reserve does not provide banking services to commercial banks and other depository institutions but provides banking services to the federal government.
c. The Federal Reserve provides banking services to commercial banks and other depository institutions and provides banking services to the federal government.
d. The Federal Reserve does not provide banking services to commercial banks and other depository institutions and does not provide banking services to the federal government.
c. The Federal Reserve provides banking services to commercial banks and other depository institutions and provides banking services to the federal government.
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In the figure above, if no one owns the lake, what is the equilibrium price of the pesticide?
A) $80 per ton B) $40 per ton C) $60 per ton D) $30 per ton
Which of the statements best describes the difference between economic regulation and social regulation?
A) There are no significant differences between economic and social regulation, social regulation is a more modern way of regulating an economy. B) Economic regulation focuses on output and price; social regulation focuses on improving the quality of life. C) Social regulation focuses on output and price; economic regulation focuses on quality of life issues. D) Social regulation targets industries like transportation, while economic regulation targets utilities.
All of the following are examples of goods for which external costs commonly exist EXCEPT
A) cigarettes. B) automobiles. C) vaccinations. D) oil transportation.
Which of the following will cause consumption, and as a result, aggregate demand, to decrease?
a. a tax cut b. a decrease in consumer confidence c. increased population d. an optimistic forecast of future income growth