Unlike the Bank of Canada, the Bank of France, the Bank of England, and other central banks in democratic market economies, the Federal Reserve System is owned by the government
Indicate whether the statement is true or false
F
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If the percentage change in the price of a good is equal to the percentage change in the quantity demanded of that good, then the demand for that good is:
A. perfectly elastic. B. inelastic. C. elastic. D. unit elastic.
Dara lives in an agricultural society with 2 million acres of farmable land. The population of Dara’s country is growing at a rate of 3 percent. Assuming there is no way to increase the amount of land available, the law of diminishing returns means that ______.
a. output will fall as less land is available per worker b. output will rise, but by ever shrinking amounts c. the country’s output will rise by about 3 percent annually d. innovation will increase output to meet demand
The economic theory of regulation treats politicians as:
A. public-spirited individuals who work for public welfare. B. self-interested individuals who benefit themselves by supplying legislation. C. corrupt individuals who sell contracts to the highest bidders. D. people who only represent the minority segment of the population.
If the demand for a country's currency increases, the currency
A) appreciates. B) depreciates. C) stays the same. D) could either appreciate, depreciate, or stay the same.