When economists, policymakers, or journalists refer to the Fed's balance sheet, they are typically referring to the:
A) money supply
B) size of the Fed's assets
C) amount of bank reserves
D) amount of foreign reserves
B
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Tastes of individuals are represented by
A) indifference curves. B) production possibility frontiers. C) isovalue lines. D) production functions. E) the terms of trade.
According to the graph shown, if the economy is operating under free trade, who would be opposed to a tariff?
This graph demonstrates the domestic demand and supply for a good, as well as a tariff and the world price for that good.
A. Foreign producers
B. Domestic consumers
C. Domestic producers
D. Both A and B would be opposed to a tariff.
The owner of a health club asks you for advice about whether the company should raise or lower the price of its membership this year based on the following information: last year the club raised the price of its membership by 5% and the number of
members paying the same fee fell by 7%. Please provide the best answer for the statement.
What is the difference between income and wealth? How can wealth contribute to income inequality?
What will be an ideal response?