The Federal Reserve consists of ________ regional banks, ________ governors on the Board of Governors, and ________ voting members of the Federal Open Market Committee.
A. 14; 7; 21
B. 7; 12; 12
C. 12; 7; 12
D. 12; 7; 19
Answer: C
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A firm's minimum efficient scale is defined as
a. the output level at which LRATC first reaches its minimum level b. any output level at which LRATC is minimized c. the highest output level at which LRATC takes on its minimum value d. the output level at which the firm charges its highest price e. the lowest output level at which the firm can charge a positive price
Which of the following is an essential component of the ladder of opportunity?
a. Effective education system b. Safety net policies and programs c. Consistent redistribution efforts d. High social rates of return
Spending VCU4 on real-world goods and services causes the nation's:
a. Demand for real goods and services to remain the same and monetary base to fall. b. Demand for real goods and services to rise and M2 money supply to fall. c. Demand for real goods and services to remain the same and M2 money multiplier to fall. d. Demand for real goods and services to rise and monetary base to remain the same.
The stand-alone selling price of a good or service may be highly uncertain because the seller
A. has not previously sold the good or service. B. sells the product or service in various combinations with other goods or services. C. provides the same good or service to different customers at substantially different prices