Cleanup of Superfund sites is currently funded by
a. a tax on petroleum
b. annual appropriations by Congress
c. a corporate environmental income tax
d. monies appropriated under the American Recovery and Reinvestment Act
e. all of the above
f. (b) and (d) only
f. (b) and (d) only
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The interest rate the Federal Reserve charges a bank when it borrows reserves from the Fed is called the
A) federal funds rate. B) prime rate. C) market interest rate. D) discount rate. E) borrowing rate.
The graph illustrates the market for bottled water. If the producers of bottled water switch to using improved technology, then the
A) supply of bottled water decreases. B) quantity demanded of bottled water increases. C) quantity demanded of bottled water does not change. D) price of bottled water rises. E) supply curve shifts leftward.
If the marginal social benefit exceeds the marginal social cost of producing the next kilowatt hour of electricity, then it is efficient to produce as many kilowatt hours as possible
Indicate whether the statement is true or false
Answer the following statements true (T) or false (F)
1. The primary function of the Fed’s Board of Governors is to formulate U.S. monetary policy. 2. The first attempt at centralized banking in the United States was the Federal Reserve System. 3. A major weakness of the National Banking System was the perverse elasticity of the money supply. 4. The Federal Reserve System was established by the National Banking Act of 1864. 5. Instead of having one central bank, the Federal Reserve in effect has twelve district banks, each with some amount of autonomy.