Paper money is printed at the _______________________, but it is issued to commercial banks by the ______________________________
A) Bureau of Engraving and Printing; FOMC
B) U.S. Mint; 12 Federal Reserve District Banks
C) Federal Reserve building in Washington; D.C., U.S. Treasury
D) Bureau of Engraving and Printing; 12 Federal Reserve District Banks
E) none of the above
D
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In a market economy, what encourages firms to develop new products and production processes?
A) contracts B) insurance C) patents D) accounting rules
An example of income earned but not received is
A) welfare payments. B) Social Security payments. C) undistributed profits. D) a and b E) a, b, and c
The equilibrium in a foreign exchange market determines
A. Domestic economic conditions. B. The exchange rate. C. The terms of trade. D. The balance of payments.
The aggregate demand curve shows
A. the relation between the aggregate quantity of goods demanded and the price level. B. the relation between the real interest rate and output when the goods market clears. C. the demand for goods depending on the relative price of goods compared to financial assets. D. the amount of output that can be obtained given the current production function in the economy.