The Board of Governors
a. is chaired by the U.S. Secretary of the Treasury.
b. members are elected by the U.S. public.
c. has 7 members.
d. All of the above are correct.
c
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When two variables move in the same direction, they are said to be:
A) unitary correlated. B) uncorrelated. C) positively correlated. D) a negatively correlated.
Third parties do not elect large numbers of candidates in democratic countries with majority rule elections
a. True b. False
Assuming that the two key restrictions on preferences fundamental to the median voter model hold, list the condition that must be satisfied for the outcome preferred by median voter to be considered economically efficient
List one real world example that comes close to this condition.
A firm will hire a unit of input up to the point where
A) the marginal cost of the input equals the marginal cost of output. B) the marginal revenue product of the input is equal to the marginal factor cost of the input. C) the price of the input is equal to the price of output. D) the marginal physical product of the input is equal to the price of output.