The Board of Governors of the Fed performs each of the following functions, except:
A. approving bank merger applications.
B. analyzing financial and economic conditions.
C. setting the reserve requirement.
D. making discount loans.
Answer: D
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In order to be able to consume more in the future, you have to consume
A) less today and save the difference. B) more today to increase supply. C) more consumer goods. D) fewer capital goods.
The colony of Georgia was established in 1732 . During the colony's early years,:
a. each arriving settler received a 50-acre farm. b. cotton plantations were the primary source of income. c. the slave population assisted free colonists in defending the Georgia-Florida border. d. the slave population exceeded the free population. e. All of the above.
When an Egyptian firm purchases a cement mixer from Slovakia,
a. Egyptian investment does not change, Egyptian net exports decrease, Egyptian GDP decreases, Slovakian net exports increase, and Slovakian GDP increases. b. Egyptian investment increases, Egyptian net exports decrease, Egyptian GDP is unaffected, Slovakian net exports increase, and Slovakian GDP increases. c. Egyptian investment decreases, Egyptian net exports increase, Egyptian GDP is unaffected, Slovakian net exports decrease, and Slovakian GDP decreases. d. Egyptian investment increases, Egyptian net exports do not change, Egyptian GDP increases, Slovakian net exports do not change, and Slovakian GDP is unaffected.
Consider the supply and demand graph below to answer three questions: (a) Use a letter to identify the area of maximum consumer surplus; (b) Use a letter to identify the area of maximum producer surplus; (c) Why is the output level shown by the vertical
dashed line one that is allocatively efficient from a marginal cost and marginal benefit perspective? What will be an ideal response?