Since the Federal Reserve Banking Act of 1978, what has been the Fed's chief responsibility?
a. Encouraging investment
b. Regulating foreign trade
c. Minimizing the interest payments on the national debt
d. Achieving a low and stable rate of inflation
e. Keeping the interest rate low
D
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The IO Economics perspective locates the source of competitive advantage for a firm at the
a. Individual firm level b. Industry level c. Customer Level d. None of the above
Gross private domestic investment consists of _____
a. spending by individual households on automobiles and durable goods b. spending by businesses on labor resources c. net additions to business inventories d. spending by government on welfare benefits e. spending by households on stocks and bonds
Which of the following is a common reaction to an increase in the interest rate?
a. A decline in oil prices b. A war c. A decrease in spending on new homes d. An expansion e. An increase in military spending
Externalities consist of ____________________.
A. Only external costs B. Only external benefits C. Both external costs and external benefits D. None of these answers are correct.