Who is responsible for U.S. monetary policy?
What will be an ideal response?
The Governors of the Federal Reserve System and the Federal Open Market Committee (FOMC) are responsible for the conduct of U.S. monetary policy.
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A leading apparel brand in the U.S. opens a workshop in Bangladesh. This is an example of ________
A) import by the U.S. B) a foreign portfolio investment C) a foreign direct investment D) export to Bangladesh
The figure above illustrates the marginal private cost and the marginal social cost to the city of Seattle for each rock concert that is offered. It also illustrates the marginal private benefit. There is no external benefit
The efficient number of concerts in Seattle is A) 0. B) 5. C) 10. D) 20. E) 15.
When the Lorenz curve lies above the diagonal,
a. the poorest 20 percent of the population receive more than 20 percent of income. b. the richest 20 percent of the population receive more than 20 percent of income. c. everyone receives the same income. d. the country's income has been rising over time. e. it is wrong since it is impossible for the graph to look like this.
Wal-Mart created a competitive advantage with its inventory system to reduce the ratio of cost of goods sold to sales, expecting:
a. to enjoy huge economic profits forever. b. that its rivals will never imitate their strategy and it will continue to enjoy positive economic profits. c. that its rivals will immediately do the same thing and it will end up earning zero profits. d. to enjoy economic profits for a few years before its rivals caught up. e. that it will at least be able to cover its fixed costs.