The Board of Governors appoint __________ directors for each Federal Reserve Bank and the member banks elect __________ for the Federal Reserve Bank in their district
A) three; three
B) three; six
C) six; three
D) six; six
B
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Everything else held constant, a decline in interest rates will cause spending on housing to
A) fall. B) remain unchanged. C) either rise, fall, or remain the same. D) rise.
If India has an absolute advantage in rug production compared to England, then
a. India should export rugs to England b. England should export rugs to India c. England cannot benefit from free trade with India d. England uses fewer resources to produce rugs than India e. India uses fewer resources to produce rugs than England
What is a budget line? What does its slope indicate?
If the government wants a natural monopoly to earn a "fair return" or zero economic profit, it will set
a. price equal to marginal cost. b. price equal to average total cost. c. price equal to average revenue. d. marginal cost equal to marginal revenue. e. marginal cost equal to average total cost.