The Federal Reserve System of the U.S. is the country's
A. financial adviser.
B. central bank.
C. comptroller or accountant.
D. deposit insurance provider.
Answer: B
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A monopolistic competitor produces 1,200 units of a good at an average cost of $120 per unit. If the price charged is $135, calculate his total profit
A) $13,500 B) $1,100 C) $18,000 D) $2,000
What percent of the families classified as poor in 2010 were headed by an elderly (age 65 and over) person?
a. approximately two-thirds b. approximately 9 percent c. approximately 32 percent d. approximately 50 percent
The aggregate supply curve slopes upward because as price rises, the quantity of output supplied rises.
Answer the following statement true (T) or false (F)
Refer to the graph below showing a linear demand curve for a monopolist. Which of the following statements is correct?
A. The area 0QVS is greater than the area 0RWT
B. The demand curve has unit price elasticity at W
C. The price elasticity of demand is less at U than at V
D. The price elasticity of demand is greater at W than at V