The Federal Open Market Committee consists of
a. the president and the Board of Governors.
b. Congresspeople, Senators, and the Board of Governors.
c. the Secretary of the Treasury and the Board of Governors.
d. the Board of Governors and five district bank presidents.
d
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A change in the price of one good cannot leave utility unchanged unless the price change is accompanies by a change in income.
Answer the following statement true (T) or false (F)
Three firms agree to operate as a monopoly and charge the monopoly price of $40 for their product and (jointly) produce the monopoly quantity of 50,000 units. If the competitive price for the product is $35, under the Clayton Act these three firms face treble damages of ________.
A) $1,000,000 B) $250,000 C) $3,000,000 D) $750,0
Gross domestic product (GDP) is defined as:
a. the market value of all final goods and services produced within the borders of a nation. b. incomes received by all of a nation's households. c. the quantity of each good and service produced by U.S. residents. d. none of these.
On a secondary stock market, such as the New York Stock Exchange,
a. firms sell new issues of stock b. firms make initial public offerings c. previously issued bonds are sold and resold d. previously issued shares of corporations are sold and resold e. firms sell newly issued bonds