The lines drawn to establish Federal Reserve Districts were based on:
A. solely population distribution in 1914.
B. economic and political forces as well as population distribution in 1914.
C. solely economic forces that existed in 1914.
D. economic and political forces that existed in 1914.
Answer: B
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A firm that is a price maker can
a. limit output and raise prices. b. ignore the law of demand. c. ignore the elasticity of the demand for the product. d. both limit output and raise prices and ignore the elasticity of the demand for the product.
The government corporation that insures pension benefits is
A) Fannie Mae. B) Ginnie Mae. C) Penny Benny. D) Sallie Mae.
Shifting resources from other goods to security goods may not increase a nation's national security if
a. the law of increasing opportunity cost is not applicable b. the economy is already at full employment c. the economy is not at full employment d. national security is already at its maximum e. other nations react to the shift by increasing their own spending on national security
If depreciation equals zero and retained earnings equal $5 billion, then
A. Net national product is less than GNP by $5 billion. B. GNP is greater than GDP by $5 billion. C. GNP is less than net national product by $5 billion. D. GNP equals net national product.