The primary purpose of the Federal Open Market Committee (FOMC) is to:
a. set reserve requirements
b. extend loans to member banks of the Fed.
c. buy and sell government securities.
d. distribute Federal Reserve notes.
e. enforce bank regulations.
c
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When a monopoly price discriminates, it charges the highest price to the group of buyers with the least elastic demand
a. True b. False Indicate whether the statement is true or false
Economists generally define economic growth as an increase in real income per capita
a. True b. False Indicate whether the statement is true or false
To fully understand the progressivity of government policies, one should only look at the proportion of total income that individuals pay in taxes each year
a. True b. False Indicate whether the statement is true or false
A share of a restaurant chain can be worth $2 with a probability of 0.40 and $10 with a probability of 0.60. What is the variance of the price of this share?
A) 3 B) 5 C) 6 D) 8.5