The Fed can drive up interest rates by selling government securities and decreasing the money supply
a. True
b. False
Indicate whether the statement is true or false
True
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For a typical short-run production function, so long as marginal product is increasing, average product will be increasing as well
Indicate whether the statement is true or false
If your income goes up by 2% and, in response, the quantity demanded of good x rises by 3%, the income elasticity of demand would be:
a. 1.5 b. 6 c. 3 d. .20
Global environmental externalities are caused when pollution created in one country does which of the following?
a. Affects people in other countries who also caused the pollution b. Does not affect people in other countries c. Affects people in other countries who did not cause the pollution d. Positively affects people in other countries
The Food Quality Protection Act of 1996
a. amended both TSCA and FIFRA b. gives particular attention to pesticide risks faced by infants and children c. establishes several health-based standards to control pesticides in foods d. none of the above