The president of the Federal Reserve Bank of ________ is always a member of the FOMC.
A. Minneapolis
B. Boston
C. Washington, D.C.
D. New York
Answer: D
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The balance of trade account reflects only transactions associated with the international trade of goods
a. True b. False Indicate whether the statement is true or false
Which of the following is an example of a good with a highly elastic supply curve?
a. luxury goods b. tropical vacations c. pizza d. sports vehicles
The key dimension of deepening human capital in the U.S. economy focuses more on a higher average level of work experience than on additional education and training
a. True b. False Indicate whether the statement is true or false
Figure 17-12
If the country illustrated in is initially trading without restrictions at a world price of $1.00, the gain in producer surplus as a result of a tariff of $0.50 per unit is represented by area
a.
c + h
b.
h
c.
c
d.
c + g
e.
g