All decisions of the Fed are subject to approval by:
a. the President of the United States.
b. the U.S. Congress
c. the FDIC
d. none of the above
d
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In the figure above, Nike maximizes its profit if it sells ________ pairs of shoes per day
A) 120 B) 87 C) 137 D) 150
Which is not one of the criteria necessary for a commodity to make a suitable medium of exchange?
A) It should be of standardized quality. B) It should be valuable relative to its weight. C) It should be durable. D) It should have intrinsic value.
Marginal revenue product is defined as the amount that an additional unit of the variable input adds to ____
a. marginal revenue b. total output c. total revenue d. marginal product e. none of the above
As the multiplier process is working on the demand side,
A. firms will meet the additional demand without raising prices. B. firms will meet the additional demand only by raising prices. C. firms will not meet the additional demand. D. the multiplier process will cease creating demand.