If the Federal Reserve buys $3 billion worth of Japanese yen and sells $5 billion of euros, how does this affect the balance of payments?
A. Falls by $2 billion
B. Falls by $5 billion
C. Rises by $2 billion
D. Rises by $3 billion
Answer: A
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The Wax Works sells 500 candles at a price of $10 per candle. The Wax Works? total economic costs for producing 500 candles are $2,000. The Wax Works? economic profit is
A. $2,000. B. $3,000. C. $5,000. D. indeterminate from this information.
The Glass-Steagall Act of 1933 separated commercial banks from most of their securities business
Indicate whether the statement is true or false
A risk-neutral individual will make investment decisions purely based on expected value because
A) she doesn't care about utility. B) utility is a linear function of wealth. C) she loves to take risk. D) expected value is always more than expected utility.
A program budget ______
a. increases the budget of an agency by the annual inflation rate b. groups expenditures by the goals they are trying to achieve c. groups expenditures by the types of items that are purchased d. groups expenditures by agency