All national banks were required to join the Federal Reserve Bank of their region; however, state banks could do so on a voluntary basis
Indicate whether the statement is true or false
True
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Negative supply shocks can have a tendency to ________ costs of production and ________ the inflation rate
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
Consumption expenditure includes
a. the production of consumption goods not sold and held in inventory. b. the purchase of consumption goods made domestically but consumed by foreigners. c. purchase of goods and services by local government. d. services, durables, and non-durable goods.
If a good is offered to you free of charge, then you
a. never stop consuming it b. stop consuming it when its marginal utility begins to fall c. stop consuming it when its marginal utility begins to increase d. stop consuming it when its marginal utility equals 0 e. stop consuming it when its total utility equals 0
As a result of a tariff on an imported good,
a. domestic producers are better off because they sell more goods at the same price b. domestic producers are better off because they sell more goods at a higher price c. domestic producers are better off because they sell the same quantity of goods at a higher price d. domestic consumers are better off because there are more domestically produced goods available e. domestic consumers are neither better off nor worse off because imports do not change