How many directors are on the boards for each of the 12 Federal Reserve banks?
(A) 12
(B) 7
(C) 15
(D) 9
Answer: (D) 9
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Jane is a 25-year-old, full-time student. She works part time in her school library and is paid $7 an hour. She is considered to be
A) unemployed. B) not in the labor force. C) in the labor force but not working. D) employed. E) not in the working-age population because she is in college.
A firm has an average total cost of $50. If it sells 20 units of its product at $80 each, what is its profit?
A) $30 B) $600 C) $1,000 D) $1,600
If the marginal utility of apples exceeds the marginal cost of producing apples, then in a free market production of apples will ____, with the likely result that marginal utility will ____
a. rise; fall b. fall; rise c. rise; rise d. fall; fall
Suppose the prices of agricultural products such as corn and soybeans increase. What is the effect of these price increases on the marginal product of the 1,000th farm worker? What is the effect on the value of the marginal product of the 1,000th farm worker?