The Federal Reserve System:
A. is basically an independent agency.
B. is an agency of the executive branch of the federal government.
C. has the status of a congressional committee.
D. has the same status as the Supreme Court.
Answer: A
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If, due to rising demand, the price of cotton rose 15 percent while the prices of other goods and services rose an average of 10 percent,
a. the relative price of cotton has risen and one would expect the output of cotton to rise as a result. b. the relative price of cotton has risen and one would expect the output of cotton to fall as a result. c. the relative price of cotton has fallen and one would expect the output of cotton to rise as a result. d. the relative price of cotton has fallen and one would expect the output of cotton to fall as a result.
Argentina in 2001 faced a debt problem more serious than the U.S. debt problem because Argentina was obligated to repay its debt in
a. U.S. dollars. b. their own currencies. c. a relatively short period of time. d. large installments.
Suppose the Move It! exercise chain has revenues of $45 million, accounting costs of $15 million, and currently has issued 10 million shares of stocks selling at $90 each. Compute the price-earning ratio. Show your work. Is this ratio relatively high or low? What might an increase in the price-earnings ratio indicate?
Both a perfectly competitive firm and a monopolist find that:
A. price and marginal revenue are the same. B. they can sell as many units of output as they want at the market price. C. price is less than marginal revenue. D. it is best to expand production until the benefit and the cost of the last unit produced are equal.