Which of the following is NOT a subgroup of the Federal Reserve System?
A) the Federal Open Market Committee
B) the Federal Funds Market
C) the Federal Reserve Banks
D) the Board of Governors
B
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In the United States in 2014, the highest marginal tax rate for individual income taxes was 39.6%
Indicate whether the statement is true or false
In the decade immediately following emancipation, former slaves
a. were willing to work under the gang system in return for wages and benefits. b. decreased their labor supply. c. obtained ownership of roughly 40 percent of southern farms. d. moved to northern states in large numbers.
Scarcity can be eliminated if:
a. people satisfy needs rather than wants. b. sufficient new resources were discovered. c. output of goods and services were increased. d. none of these.
If a firm had negative economic profits (i.e., economic losses), but did make an accounting profit, we may conclude that
A. explicit costs are negative. B. implicit costs are zero. C. implicit costs are positive. D. implicit costs are greater than explicit costs.