The Federal Reserve came into existence in response to
A. a fear of a post-World War II depression.
B. the inflation of the Civil War.
C. the depression of the 1930s.
D. the boom and bust nature of the late-19th and early-20th century.
Answer: D
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Suppose the IRS were to introduce a tax exemption for portion of interest income earned on corporate bonds. This would
A) reduce the user cost of capital. B) raise the marginal product capital. C) raise the rate of depreciation. D) All of the above are correct.
Figure 10-7
In Figure 10-7, through which point must a horizontal demand curve pass to yield a long-run equilibrium?
a.
A
b.
B
c.
C
d.
All of the above is correct.
Briefly describe and compare the efficiency of output and profit in a monopoly.
What will be an ideal response?
Given their skills and education, those who work the night shift earn more than those who work in the daytime. This is partly because:
A. working the night shift is relatively more desirable. B. a relatively small number of people are willing to work the night shift. C. working the night shift is safer. D. few people have the required skills for the night shift.