Which one of the following is a function of the Federal Reserve System?
A) providing the economy with currency B) serving as a lender of last resort
C) providing a system for check clearing D) all of the above
D
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What does the slope of the line shown in the above figure equal?
What will be an ideal response?
The production possibilities frontier shows the opportunity cost of one good as measured in terms of the other good
a. True b. False Indicate whether the statement is true or false
A monthly growth rate of 0.5% is an annual growth rate of:
A. 6.50% B. 6.17% C. 5.00% D. 6.00%
A farmer buys seed for 20 cents that is used to grow wheat. The farmer sells the wheat to the miller for 35 cents, and the miller makes flour, which is then sold to the baker for 55 cents. The baker makes bread and sells it to the grocer for 80 cents, and the grocer sells the bread to a family for 90 cents. What is the value added of the baker and what is the sum of the value added at each stage of production?
A. 25 cents; $2.90 B. 80 cents; $1 C. 25 cents; 90 cents D. 80 cents; $2.90