Perfect competition is characterized by many firms and no barriers to entry.
Answer the following statement true (T) or false (F)
True
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Which of the following is NOT true about the duties the Fed performs for the federal government?
A) The U.S. Treasury has a checking account at the Fed. B) The Federal Reserve aids in the purchase and sale of certain government securities. C) The U.S. Treasury controls the Fed. D) The Federal Reserve is the banker and fiscal agent of the federal government.
All else the same, when the Fed calls in a $100 discount loan previously extended to the First National Bank, reserves in the banking system
A) increase by $100. B) increase by more than $100. C) decrease by $100. D) decrease by more than $100.
A decrease in marginal tax rates will cause ________ in investment and a ________ shift in AS.
A. a decrease; leftward B. a decrease; rightward C. an increase; leftward D. an increase; rightward
Maximum Feasible Hourly Production Rates (in Tons) of EitherWine or Beef Using All Available ResourcesProductArgentinaFranceWine (gallons)3060Beef (pounds)1030Use the above table. Assuming constant opportunity costs, the opportunity cost of producing a pound of beef in Argentina is
A. 2 gallons of wine. B. 0.33 gallons of wine. C. 0.5 gallons of wine. D. 3 gallons of wine.