The Federal Reserve System was created by the
A) Supreme Court. B) President. C) U.S. Treasury. D) Congress.
D
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Social Security pension benefits are
A. subject to income taxes for those with certain income levels. B. non-taxable for all retirees. C. subject to state, but not federal, income taxes. D. subject to capital gains taxes.
In the market for used cars we have 10 sellers, willing to sell at the prices of $1000 . $2000 . $3000 . $4000 . $5000 . $6000 . $7000 . $8000 . $9000 . $10000 . If the equilibrium price in the market is $2500, how many cars would be sold?
a. 1 b. 2 c. 3 d. 4
Helen gives up the opportunity to bake 40 cakes for each room she paints; Josh can paint one room in the time it takes him to bake 60 cakes. The opportunity cost of a cake for Helen is
a. painting one room b. painting 1/40 of a room c. painting 1/60 of a room d. painting 2/3 of a room e. painting 3/2 of a room
A firm has market power if it can
a. maximize profits. b. minimize costs. c. influence the market price of the good it sells. d. hire as many workers as it needs at the prevailing wage rate.