The economies of most less-developed countries (LDCs) are based on:
A. agriculture.
B. manufacturing.
C. services.
D. oil.
Answer: A
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Which of the following best illustrates the free rider problem?
A) For every purchase of a $100 season pass, you are entitled to free entry to an amusement park for the entire summer. B) If your neighbors redo the landscapes in their yards, it is likely that the value of your house will increase. C) Since no one owns rhinos and rhinos are valued for their horns, rhinos can be hunted to extinction. D) Homeowners in a small neighborhood decide that security lighting is good for the neighborhood. One homeowner installs the lighting and asks you to contribute toward the cost, but you choose not to contribute.
When commercial banks need more Federal Reserve Notes,
A) they call the Bureau of Engraving and Printing, which delivers the requested amount. B) they call the Board of Governors of the Fed, which delivers the requested amount. C) they ask their customers to exchange their Federal Reserve Notes for U.S. Treasury securities. D) they call the Treasury, which delivers the requested amount. E) they call their Federal Reserve District Bank, which delivers the requested amount.
What are the economic advantages of specialization?
Please provide the best answer for the statement.
Which of the following is the principal mechanism used by the Federal Reserve to directly alter the reserves of the banking system?
A. Changes in the required reserve ratio. B. Open market operations. C. Changes in the discount rate. D. Foreign exchange operations.