Which of the following is not part of the Federal Reserve System?
a. Council of Economic Advisors
b. 12 Federal Reserve District Banks
c. Federal Open Market Committee
d. Board of Governors
a
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Consider the two economies of Lithasia and Barylia. Economic agents in Lithasia have coordination and incentive problems, while in Barylia social surplus is maximized
Which economic system does each of these economies most likely have? Explain your answer.
During periods of recession unemployment:
A. is more common. B. is less common. C. is uncorrelated to periods of recession. D. rates are the same for all groups of the working population.
Economists will readily confess that even after centuries of systematic observation of their subject matter, of data collecting, theory building, empirical testing, and amassing historically relevant material, they still usually arrive at different and sometimes even highly conflicting conclusions and recommendations
Indicate whether the statement is true or false
Which would definitely not be an example of price discrimination?
A. A theater charges children less than adults for a movie B. Universities charge higher tuition for out-of-state residents C. A doctor charges for services according to the income of patients D. An electric power company charges less for electricity used during off-peak hours when production costs are lower