Which of the following is true of the Fed?
a. The law lets the Fed decide how best to promote full employment and output in the U.S. economy.
b. It relies heavily on Congressional appropriations
c. The president sits on the Board of Governors.
d. Congress must approve any new monetary policy.
e. The president must approve any new monetary policy.
a
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Refer to Figure 4-3. If the market price is $3.50, what is the maximum number of ice cream cones that Kendra will buy?
A) 1 B) 2 C) 3 D) 4
Which of the following will lead to an outward shift in the firm's short-run demand for labor?
A) an increase in the price of output B) less capital per unit of labor C) a decline in labor productivity D) a reduction in average consumer income
Which of the following is NOT one of the components of aggregate demand?
What will be an ideal response?
The distribution of income in one nation can be illustrated by the
A) Laffer curve. B) aggregate demand curve. C) Lorenz curve. D) Phillips curve.