Most of the key decisions of the Federal Reserve are actually made by its Federal Open Market Committee
a. True
b. False
Indicate whether the statement is true or false
True
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A tax of 20 cents per unit of imported garlic is an example of a(n)
A) specific tariff. B) ad valorem tariff. C) nominal tariff. D) effective protection tariff. E) a disadvantageous tariff.
Which of the following is an assumption made while constructing a production possibilities frontier [PPF]?
a. Dynamic technological know-how b. Flexible resource quality c. Fixed resource quantity d. Full and efficient use of resources e. Flexible money supply
Among the following people, who earns a profit?
a. a construction worker who would work for $40 per hour but actually earns $50 per hour b. a heart surgeon who earns $400,000 a year c. an entrepreneur who earns $25,000 a year d. a land owner who receives $600 per acre for the 1,000 acres he owns e. a homemaker whose work is valued at $100,00 a year even though she earns $0
Supporters of the World Trade Organization contend that it:
A. undermines minimum wage laws in member nations. B. liberalizes trade among member nations. C. imposes safeguards for worker safety in member nations. D. weakens the environmental laws in member nations.