The Federal Reserve Bank was first established in the U.S. by an Act of Congress passed in
A) 1947. B) 1913. C) 1861. D) 1789.
B
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An article in the Wall Street Journal noted the following: Instead of relying on a full-coach, round-trip unrestricted fare of about $2,000 between Cleveland and Los Angeles
Continental [Airlines] since June has offered a $716 unrestricted fare in that market .... Through October, the test resulted in about the same revenue that Continental thinks it would have collected with its higher fare. Source: Scott McCartney, "Airlines Try Cutting Business Fares, Find They Don't Lose Revenue," Wall Street Journal, November 22, 2002. What is the absolute value of the price elasticity of demand on this airline route? A) less than 1 B) approximately 1 C) greater than 1 D) 0
A central bank disinflates. Output is 4% less for one year, 3% less the next year, and 2% less the third year. If inflation fell by 2 percentage points, what was the sacrifice ratio?
The following concepts are related EXCEPT for the following:
A. "The invisible hand" B. Government regulations C. A government "five-year plan" D. Government planning
When a new Walmart locates in an area, other retail stores and restaurants often locate nearby, exhibiting what economists call Walmart's ________ factor.
A. exponential B. "pull" C. "push" D. catalogue sales