Checks are cleared between private banks by:
A. The 12 regional Federal Reserve banks.
B. The Executive Branch of government.
C. The Federal Reserve Board of Governors.
D. State banking commissions.
A. The 12 regional Federal Reserve banks.
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The following figure illustrates the concept of a:
a. budget line b. production possibilities frontier c. demand curve d. supply curve
According to the Gallup World Values Survey, 40 percent of those living in the poorest quartile of countries would like to:
A. receive more aid. B. trade freely. C. get more education. D. emigrate.
The long-run aggregate supply analysis assumes that ________.
A. input prices are fixed while product prices are variable B. both input and product prices are variable C. both input and product prices are fixed D. input prices are variable while product prices are fixed
Assume labor is the only variable input and that an additional input of labor increases total output from 72 to 78 units. If the product sells for $6 per unit in a purely competitive market, the MRP of this additional worker is:
A. $6. B. $12. C. $36. D. $72.