Which of the following institutions is NOT part of the structure of the Federal Reserve system?
A) The Federal Open Market Committee
B) The Federal Reserve Banks
C) The Board of Governors
D) The Federal Government
D
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In the United States, approximately what percentage of the total income is earned by the highest 5 percent of the families?
a. 10 percent. b. 20 percent. c. 30 percent. d. 40 percent.
The law of comparative advantages explains why
A. advanced nations will not trade with less-developed countries. B. an advanced nation will not trade with other countries. C. less-developed countries only trade among themselves. D. nations trade with each other, regardless of their relative levels of economic development. E. nations erect trade barriers.
In 1944 the U.S. economy was temporarily operating at point _________.
A. A
B. B
C. C
D. D
You have decided that you want to attend a renaissance fair as King Henry VIII. You estimate that it will cost $80 to assemble your costume. After spending $80 on the costume, you realize that the additional pieces you need will cost you $20 more. The marginal cost of completing the costume is
A. $20. B. $60. C. $80. D. $100.