Which of the following statements is true?
A. The ECB's success in controlling reserves by paying interest on them has led the Fed to do the same.
B. The Fed's redesign of its procedures for lending to banks was the model for the ECB's marginal lending facility.
C. The ECB's marginal lending facility was the model for the Fed's redesign of its procedures for lending to banks.
D. The ECB's weekly auctions include only a few of the largest banks in Europe.
Answer: C
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The figure above shows the market for cotton in Georgestan. The government regulates the market with a production quota set at 8 million pounds per year. The introduction of the quota has
A) not affected the level of cotton production in Georgestan. B) increased the production of cotton in Georgestan by 8 million pounds. C) decreased the production of cotton in Georgestan by 4 million pounds. D) decreased the production of cotton in Georgestan by 8 million pounds.
A business produces 400 items and sells them for $15 each for a total of $6,000. The total cost of producing the items is $4,500 in explicit cost and $1,000 in implicit cost. Economic profit is:
A. $500. B. $0. C. $1,500. D. $1,000.
What is meant by "excess capacity"? How does it relate to consumer utility?
What will be an ideal response?
When the price of a good decreases, the budget constraint does not change.
Answer the following statement true (T) or false (F)