The most powerful person at the Fed is
a. a director of a Federal Reserve bank
b. a member of the Board of Governors
c. a district bank president
d. the president of the U.S.
e. the chairman of the Board of Governors
E
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Government regulations that increase the cost to the employer of hiring workers will:
A. increase the supply of labor. B. increase the demand for labor. C. decrease the supply of labor. D. decrease the demand for labor.
Vicki consumes meat loaf and pizza. To keep her utility constant, you must give her more of one good if you take some of the other away. This information implies that
A. Vicki’s marginal rate of substitution must be constant along her indifference curve. B. Vicki’s indifference curve must have a negative slope. C. the prices Vicki must pay for meat loaf and pizza are always the same. D. Vicki’s marginal utility from each good must be constant along her indifference curve.
In the short run both the monopolistically competitive firm and the perfectly competitive firm will charge a price equal to marginal cost
a. True b. False Indicate whether the statement is true or false
Public choice theory assumes that those involved in the public sector are generally motivated by
A) public spirit. B) altruism. C) the desire to achieve allocative efficiency. D) the same factors involved in the private sector. E) a and b