The seven members of the Board of Governors of the Federal Reserve are appointed by
A) Congress.
B) the President.
C) the Governors of the States.
D) leaders in the banking industry.
E) the Treasury Department.
Answer: B
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Using the textbook's production function, if two percent more labor working with two percent more capital produces two percent more real GDP, then "multifactor productivity" has
A) risen by four percent. B) risen by two percent. C) remained unchanged. D) fallen by one percent. E) fallen by two percent.
M1 includes
a. small time deposits. b. savings deposits. c. other checkable deposits. d. money market mutual funds.
Which of the following is an example of a fixed cost for a fishing company?
A. The cost of hiring a fishing crew. B. The fuel costs of running the boat. C. The monthly loan payment on the boat. D. The supply of nets, hooks, and fishing lines.
In cases where a common resource is shared by many and technology is well developed,
A. the resource becomes excludable. B. the resource becomes nonrival in consumption. C. overuse is rarely problematic. D. overuse is more likely.