Which part of the Federal Reserve determines monetary policy? How often does it meet? What does it set a target for?
The Federal Open Market Committee. About every six weeks. Short-term interest rates.
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If the U.S. dollar and British pound have a flexible exchange rate, and the U.S. dollar changes so that one needs more dollars to buy one pound, the currency has
A) depreciated. B) appreciated. C) devalued. D) revalued.
If the production of a particular good involves significant external benefits, to force the externality to be internalized the government might:
a. impose a tax on production of the good in order to increase production. b. impose a tax on production of the good in order to decrease production. c. offer a subsidy for production of the good in order to increase production. d. offer a subsidy for production of the good in order to decrease production.
A decrease in marginal tax rates will cause entrepreneurship to ________ and AS to shift to the ________.
A. decrease; right B. increase; left C. decrease; left D. increase; right
A firm is said to have market power if it charges a price ________ of production
A) higher than the marginal cost B) lower than the marginal cost C) equal to the marginal cost D) equal to the average fixed cost