The central bank of the United States is the:
a. Federal Reserve Banking System.
b. First National Bank.
c. Comptroller's Bank.
d. United States National Bank.
e. U.S. Treasury Bank.
a
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In the short run, a firm should shut down when
A) P < AVC. B) P > MC. C) MR > MC. D) MR = ATC.
Taken together, iPod and iTunes are ________.
A) substitute goods B) complementary goods C) competitive goods D) monopolistic goods E) intangible goods
A price floor represents
A) a maximum price that can be legally charged for a product or service. B) a minimum price that can be legally charged for a good or service. C) a lottery imposed upon producers by the government. D) a first come, first served mechanism for controlling prices.
The Canadian economy can be characterized by Equation 24.2.EQUATION 24.2:C = 500 + 0.5YdTaxes = 600Equilibrium Output = $4,000Refer to Equation 24.2. At equilibrium leakages in Canada equal
A. $1,700. B. $1,750. C. $1,800. D. $2,100.