Which of the following is not true about the members of the Federal Reserve Board of Governors?
A. They are appointed to fourteen-year terms by the president of the United States.
B. They are relatively immune to short-term political pressures.
C. They may not be reappointed after serving a full term.
D. They each serve as chairman of the Board of Governors on a rotating basis.
D. They each serve as chairman of the Board of Governors on a rotating basis.
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An uncrowded toll road is ________ because it is ________
A) a public good; both nonrival and nonexcludable B) not a public good; nonrival but excludable C) not a public good; nonexcludable but rival D) not a public good; both rival and excludable
Based on our understanding of the labor market model presented in Chapter 6, we know that an increase in the markup will cause
A) an increase in the equilibrium real wage. B) a reduction in the equilibrium real wage. C) a reduction in the natural rate of unemployment. D) both B and C
Consider the opportunity costs of producing goods X and Y that are listed for the four individuals above. Which person has a comparative advantage in producing good X?
A) Pramilla B) Sam C) George D) Lucas
In the above figure, the monopolist's profit-maximizing output level is
A) A. B) B. C) C. D) D.