The Federal Reserve System was founded in:
a. 1913.
b. 1929.
c. 1933.
d. 1935.
a
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For a monopoly, the market demand curve is the firm's
A) supply curve. B) marginal revenue curve. C) demand curve. D) profit function.
If Country A exports a good to Country B, who is made worse off?
a. The producers in Country A and the consumers in Country B b. The consumers in Country A and the consumers in Country B c. The producers in Country A and the producers in Country B d. The consumers in Country A and the producers in Country B e. Only the consumers in Country A will be worse off from this trade agreement
Suppose the economy is in long-run equilibrium and the government decreases its expenditures. Which of the following helps explain the logic of why the economy moves back to long-run equilibrium?
a. as people revise their price-level expectations upward, firms and workers strike bargains for higher nominal wages. b. as people revise their price-level expectations upward, firms and workers strike bargains for lower nominal wages. c. as people revise their price-level expectations downward, firms and workers strike bargains for higher nominal wages. d. as people revise their price-level expectations downward, firms and workers strike bargains for lower nominal wages.
If a customer buys an airline ticket based only on the price of the ticket for a particular destination, then the airline ticket is best regarded as a(n)
A. experience good. B. credence good. C. inferior good. D. search good.