The twelve Federal Reserve Banks can best be characterized as:
A. Central banks, banker's banks, and quasi-public banks
B. Regional banks, public banks, and member banks
C. Investment banks, banker's banks, and public banks
D. National banks, quasi-public banks, and investment banks
A. Central banks, banker's banks, and quasi-public banks
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What is an average cost pricing rule? Why do regulatory agencies use it for natural monopolies?
What will be an ideal response?
A person holding dollar deposits during the devaluation of the dollar would
A) enjoy a monetary gain. B) see the foreign currency value of dollar assets increase by the amount of the exchange rate change. C) shift their wealth into domestic investments. D) suffer a monetary loss and see the foreign currency value of dollar assets decrease by the amount of the exchange rate change. E) see no change in their investments.
Which of the following exemplifies inefficient legal assignment of rights with high transaction costs?
a. Agreement between an orchard farmer and a beekeeper. b. LoJack installation in cars to prevent car theft. c. The Huntington Beach oil wells. d. Installation of smog control in cars.
In the circular flow diagram, money flows from firms to households through the
a. product market b. payments market c. goods market d. services market e. resource market