Which of the following has served most recently as Chairman of the Board of Governors of the Federal Reserve System?
A) Nancy Pelosi
B) Alan Greenspan
C) Ben Bernanke
D) Paul Volcker
C
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If a central bank wants to keep the value of its home currency fixed in the foreign exchange market, then an increase in the demand for its home currency will lead the central bank to
A) do nothing. B) sell its home currency. C) buy its home currency. D) sell foreign currencies.
Suppose the market for shoes consists of three consumers. The accompanying table shows the quantity demanded at various prices for each consumer:PricePer PairPairs Demandedby PatPairs Demandedby LeighPairs Demandedby Chris$100010$75031$50173$302105At $100 per pair, market demand:
A. is less than the quantity supplied. B. intersects the x-axis. C. intersects the y-axis. D. is the same as Leigh's demand.
Monopolistic competition may lead to each of the following except
A. too many firms in the industry. B. zero economic profits in the long run. C. a price that is above the ATC curve in the long run. D. non-price competition.
A rightward shift of the production possibilities frontier of an economy represents: (check all that apply)
a. an increase in the average price level in the economy. b. economic growth. c. an increase in the quantity of resources. d. an increase in the overall demand for goods and services in the economy.