Which of the following is TRUE of the Federal Reserve System?
I. It was established in the early 1980s.
II. It serves as the central bank of the United States.
A) I only B) II only C) Both I and II D) Neither I nor II
B
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Barriers to entry are forces that:
A. promote a more efficient allocation of resources across the economy. B. limit the government from intervening in markets. C. limit consumers from purchasing new products. D. limit new firms from joining an industry.
The Federal Reserve System is run by the President of the United States
a. True b. False Indicate whether the statement is true or false
Suppose that nominal GDP in year 1 is 200 and nominal GDP in year 2 is 242. Assume that inflation is ten percent per year. How fast did the economy grow between these two years?
A) 10 percent B) 12 percent C) 21 percent D) 42 percent
All points within the utilities possibilities frontier are
A) unattainable. B) efficient. C) inefficient. D) profitable.