The Federal Reserve System functions as America’s
A. tax collector.
B. stock and bond market.
C. savings bank.
D. central bank.
Answer: D
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In general, the purpose of markets is to facilitate the exchange of goods and services between buyers and sellers
a. True b. False Indicate whether the statement is true or false
If we use the shortrun (specificfactors) model to model FDI movement from one nation to another, then wages in the recipient nation:
a. decline absolutely. b. rise as a result of an increase in the MP of labor. c. are not affected. d. decline relatively, as capital competes with labor but not absolutely.
Your economics professor has announced that he or she will assign final grades as follows: the top 20 percent of students will get an A, the bottom 20 percent of students will get an F, and everyone else will get a C. You would expect that, as the semester progresses, students who really care about getting an A will:
A. study less and less to maintain low standards. B. try to forget about the grading scheme. C. maintain a stable agreement to not study for exams. D. engage in a positional arms race, studying more and more.
Exhibit 21-6 Dollars per British pound QuantityDemanded Dollarsper Pound QuantitySupplied 200 5 600 240 4 480 300 3 410 360 2 360 390 1 330 In Exhibit 21-6, the equilibrium exchange rate is:
A. 5. B. 4. C. 3. D. 2.