The threat of confiscated private property diminishes the incentive to invest
a. True
b. False
Indicate whether the statement is true or false
True
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The Board of Governors of the Federal Reserve System has seven members appointed by the ________ that serve a term of ________ in order to ________
A) U.S. congress; 4 years; fulfill a mandate within the U.S. constitution B) U.S. senate; 14 years; provide continuity in the governing of the U.S. economy C) U.S. president and confirmed by the U.S. senate; 14 years; provide continuity in the governing of the U.S. economy D) U.S. president and confirmed by the U.S. congress; 14 years; provide continuity in the governing of the U.S. economy E) U.S. president and confirmed by the U.S. senate; 4 years; fulfill a mandate within the U.S. constitution
In the above figure, suppose that the government sets a limit to production at 10 units of output and the price rises to $4. In comparison to a competitive market the consumer surplus would fall by
A) $0. B) $10. C) $15. D) $20.
If a good is produced using inputs for which there are no substitutes, the good's
A) elasticity of supply is likely to be small. B) elasticity of supply is likely to be large. C) elasticity of demand will be small. D) elasticity of demand will be large.
A cottage industry exists in the home-manufacture of ‘country crafts'. Especially treasured are handmade quilts. If the fourth completed quilt took 30 hours to make, and the eighth quilt took 28 hours. What is the percentage learning?
a. 5% b. 6.7% c. 10% d. 100% e. 122%