Congress created the Federal Reserve System in 1913 as the institution delegated to administer
A) monetary policy to stabilize the economy.
B) the constitutional power of Congress to "coin money and regulate the value thereof."
C) collect taxes for the federal government.
D) the minting of coins.
B
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Paint and paintbrushes are complements. If the price of paint increases, then
A) the demand for paintbrushes will increase. B) the demand for paintbrushes will decrease. C) the demand for paint will increase. D) the demand for paint will decrease.
One of the distinguishing characteristics of capital mobility today is that
A) there are far more kinds of financial instruments than there were 100 years ago. B) nations are no longer dependent on their own national savings for their investment funds. C) the bulk of foreign capital flows are tied to labor flows. D) foreign capital flows are better managed and rarely cause financial problems. E) currency markets play a less significant role than they did in the past.
Refer to the above figure. At a price of three cents, a(n) ________ of bubble gum will exist in the market
A) surplus B) shortage C) equilibrium quantity D) excess quantity supplied
Which of the following is true regarding scarcity?
a. Scarcity could be eliminated if all economies of the world would work together to solve world hunger. b. Scarcity could be eliminated if we had full employment. c. It is impossible to eliminate scarcity, given limited resources and unlimited wants. d. Scarcity could be eliminated if all economies of the world would adopt communism. e. Scarcity could be eliminated if all economies of the world would adopt a free market system.