A central bank is an institution that
A) pays for government expenditures.
B) controls a nation's monetary policy.
C) runs a country's stock market.
D) determines a nation's fiscal policy.
B
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In Japan, recycling is prevalent and landfill use is small relative to the United States because
a. the Japanese are more conscientious b. there is no externality problem there c. land is relatively more scarce in Japan d. the Japanese have better recycling technology e. littering is illegal there
Countries that start with very little physical capital will get a:
A. similar return from adding a unit of capital than a country that starts at a higher initial level will. B. higher return from adding a unit of capital the more natural resources they possess. C. lower return from adding a unit of capital than a country that starts at a higher initial level will. D. higher return from adding a unit of capital than a country that starts at a higher initial level will.
Refer to the graph shown.
Assuming a consumer has $5 to spend, if a soda costs $0.25 and a chocolate bar costs $0.50, the consumer will optimally choose to consume:
A. 0 cans of soda and 10 chocolate bars. B. at point A. C. at point B. D. 20 cans of soda and 0 chocolate bars.
Suppose a union successfully negotiates a wage rate for its members that is above the competitive wage rate, then
A) there will be downward pressure on the wage rate until equilibrium is established. B) right-to-work laws become effective. C) there is a shortage of jobs. D) there is excess demand for labor.