The Federal Reserve is:
A. the United States' central bank.
B. a Congressional committee.
C. another name for the U.S. Treasury.
D. the largest commercial bank in the U.S.
Ans: A. the United States' central bank.
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An increase in income produces a parallel, outward shift in the budget line.
Answer the following statement true (T) or false (F)
As we move down a linear demand curve, the absolute value of the price elasticity of demand:
A) increases. B) stays the same. C) decreases. D) cannot be determined without more information.
An In the News article is titled "Where Do Start-ups Get Their Money?" Venture capital is important to an economy because it
A. Slows the growth of technology, which serves as an important correction for the economy. B. Increases the pace of innovation and economic growth. C. Slows the pace of innovation and economic growth. D. Helps keep inefficient firms out of the industry.
Figure 4-23
Refer to . In which market will the tax burden be most equally divided between the buyer and the seller?
a.
market (a)
b.
market (b)
c.
market (c)
d.
All of the above are correct.