The Federal Reserve Board of Governors
a. serve at the pleasure of the president similar to other cabinet positions.
b. report directly to Congress and are controlled by Congress.
c. consists of 12 members, one from each district bank.
d. is structurally independent of the executive and legislative branches of the federal government.
d
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Ceteris paribus is the same as rise / run
Indicate whether the statement is true or false
When the firm in the figure above maximizes its profit, it earns an economic profit of
A) $3,125. B) $6,250. C) $9,375. D) $5,625. E) None of the above answers are correct because the firm incurs an economic loss.
When total fixed costs increase,
A. the firm may be forced to shut down if total fixed costs get too high. B. the profit-maximizing level of output falls. C. economic profit decreases. D. both a and b E. both b and c
The MB curves in the diagram slope downward because of the law of:
A. conservation of matter and energy.
B. diminishing returns.
C. diminishing marginal utility.
D. increasing cost.