Deciding if a power company will generate electricity from wind power or coal answers the economic question of
A) what products will be produced. B) where will the products be consumed.
C) who consumes the products produced. D) how will the products be produced.
D
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Refer to the below graph of the market for low-skilled labor. Sd is the supply of domestic resident workers, and St is the total supply of labor including undocumented workers. If there are illegal immigrants in the market, how many illegal immigrants will be employed?
A. 15M
B. 120M
C. 135M
D. 22M
In an attempt to bring lenders and borrowers together following the financial crisis of 2008, the Federal Reserve made a large amount of new funds available to financial markets
The Fed expected this to increase the money supply and the total amount of lending because of the multiplier effect, in which a given amount of new reserves results in a multiple increase in A) long-term debt. B) stockholders' equity. C) bank deposits. D) required reserves.
Because GDP does not fully account for improvements in the quality of goods, the GDP calculation
a. tends to overstate the true value of output in the United States. b. tends to understate the true value of output in the United States. c. provides an accurate value of output in the United States. d. measures the value correctly because price changes always capture the value of quality changes.
Which one of the following is true about the U.S. Federal Reserve System?
A. There are 14 members of the Federal Reserve Board. B. The head of the U.S. Treasury also chairs the Federal Reserve Board. C. There are 10 Federal Reserve Districts. D. The Federal Open Market Committee (FOMC) has more members than does the Federal Reserve Board of Governors.