The Fed is a nonprofit institution whose function is to serve the overall welfare of the public.
Answer the following statement true (T) or false (F)
True
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"When a person has an absolute advantage in producing a good, the person necessarily has a lower opportunity cost of producing it." Is this assertion correct or incorrect? Explain your answer
What will be an ideal response?
Suppose the required reserve ratio is 8% and the Fed purchases $100 million worth of Treasury bills from Wells Fargo. By how much is Wells Fargo able to increase its loans?
A) $8 million B) $92 million C) $100 million D) $1.25 billion
The economic theory of labor markets leads to the conclusion that professional athletes who are paid tens of thousands of dollars per appearance must be paid more than their marginal revenue product
a. True b. False Indicate whether the statement is true or false
Suppose you are seeking a real wage increase of 2% and you expect inflation to be 3%. What nominal wage increase should you seek?
a. 2.0% b. 3.0% c. 1.0% d. 5.0% e. 1.5%