Which of the following is an entity of the Federal Reserve System?
A) the U.S. Treasury Secretary
B) the FOMC
C) the Comptroller of the Currency
D) the FDIC
B
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The economy could produce at 8 units of outboard motors and 18 units of robots
A. immediately only under unusual circumstances such as war.
B. if there is economic growth over a period of years.
C. under no circumstances.
D. immediately only under unusual circumstances such as war AND if there is economic growth over a period of years.
What is the “right” degree of abstraction necessary to analyze an economic problem?
A. Simple abstraction of only minor details B. Simple abstraction of only irrelevant details C. Total abstraction of all variables D. Total abstraction of all irrelevant details E. There is no “right” degree of abstraction to analyze an economic problem.
Comment on the following: "A monopolist is a firm that can raise its price without experiencing a decrease in its total revenue."
What will be an ideal response?
Find the equation that represents the negative consumption externality in this case.
The market for a chemical pesticide can be modeled as given below, where Q is measured in thousands of pounds: MSB = 20 – 0.4Q MPB = 20 – 0.3Q MSC = MPC = 12 + 0.1Q