The twelve district banks of the Federal Reserve System were created to decentralize power and to respond to the public's fears of the monopoly power of a single central bank such as the Bank of England or the Bank of Japan
a. True
b. False
Indicate whether the statement is true or false
True
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In order to determine whether to major in economics, a rational individual compares the ________ of the decision
A) normative benefits and positive costs B) positive benefits and normative costs C) marginal benefit and marginal cost D) self-interest and social-interest E) opportunity cost and the sunk cost
The "Big Mac index" was created by The Economist magazine to determine
A. how successful the McDonald's corporation has been around the world. B. the accuracy of exchange rates. C. whether or not the dollar was overvalued or undervalued. D. None of these statements are true.
If the government budget is balanced, and saving is greater than investment, then the
A. current account must be in surplus. B. current account must be in deficit. C. current account balance must be zero. D. capital account must be in surplus.
Which of the following events would cause the price of oranges to fall?
a. There is a shortage of oranges. b. The FDA announces that bananas cause strokes, and oranges and bananas are substitutes. c. The price of land throughout Florida decreases, and Florida produces a significant proportion of the nation's oranges. d. All of the above are correct.