The president of the Federal Reserve Bank of ________________ holds a permanent seat on the _________________________
A) New York; Board of Governors of the Federal Reserve System
B) Washington D.C.; FOMC
C) San Francisco; FOMC
D) New York; FOMC
E) Washington D.C.; Board of Governors of the Federal Reserve System
D
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If Congress decides to reduce the tax per pack paid by sellers of cigarettes, other things being equal, the equilibrium price of cigarettes will fall. This fall in the equilibrium price can be attributed to a(n):
a. upward movement along the supply curve for cigarettes. b. rightward shift of the supply curve for cigarettes. c. upward movement along the demand curve for cigarettes. d. leftward shift of the supply curve for cigarettes.
Suppose that the installation, operating, and maintenance costs of a large wind turbine is four times that of a small turbine and has four times the generating capacity. The wind power industry faces
A. constant returns to scale. B. economies of scale C. increasing marginal cost. D. diseconomies of scale.
Aimee sells hand-embroidered dog apparel over the Internet. Her annual revenue is $128,000 per year, the explicit costs of her business are $42,000, and the opportunity costs of her business are $30,000. What is her accounting profit?
A) $12,000 B) $56,000 C) $86,000 D) $98,000
To be unemployed, a person must be without a job and actively looking for work.
Answer the following statement true (T) or false (F)