Which group aids the Board of Governors of the Federal Reserve System in conducting monetary policy?
A. Federal Advisory Council
B. Federal Open Market Committee
C. U.S. Congress
D. U.S. Treasury
Answer: B
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The "V" in the equation of exchange MsV = PY refers to
A) the velocity of inflation. B) a variable. C) income velocity of money. D) a vector that links P to Y.
A pricing strategy that requires consumers pay an up-front fee plus an additional fee for each unit of product purchased is a
A) tying contract. B) two-part tariff. C) form of perfect price discrimination. D) none of these.
Which of the following is the most efficient method to reduce pollution emissions?
a. government pollution charges or taxes b. non-tradable emission standards that cap allowable pollution c. common law enforcement of property rights, when those rights are well-defined and transaction costs are low d. legislated regulations limiting the quantity of emissions allowed by each firm
Negative selection in a migration model means that
A. all workers in the source country would earn a higher return on their skills if they would immigrate to the destination country. B. anyone in the source country who can afford the cost of migrating to the destination country will do so. C. all workers in the source country would earn a higher return on their skills if they would remain in the source country. D. immigrants from the source country are not highly skilled relative to labor in the destination country. E. immigrants from the source country are highly skilled relative to labor in the destination country.