The federal funds rate is never targeted by the Fed.
a. true
b. false
Ans: b. false
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Refer to Table 11.1. What is the value of personal consumption expenditures?
A) $3,000. B) $1,000. C) $4,350. D) $2,350.
If a product can be produced by a natural monopoly, society will benefit in the form of lower prices if the monopolist is broken up into several smaller firms
a. True b. False Indicate whether the statement is true or false
How can the concepts of opportunity costs, scarcity and choice be illustrated by the production possibilities curve?
What will be an ideal response?
When 4 units of labor are employed, total product is 7 units; when 5 units of labor are employed, total product is 9 units of output. If the price of output is $5 per unit, what is the marginal revenue product of the 5th unit of labor?
A. $10 B. $2 C. $40 D. $5