The Board of Governors of the Federal Reserve System has
a. six members.
b. seven members.
c. one member from each Federal Reserve Bank.
d. twenty members.
b. seven members.
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A profit-maximizing monopolist operates where demand is: a. inelastic
b. unit elastic. c. elastic. d. infinitely elastic.
Inclusive property rights provide an investor:
a. more options and greater incentives to avoid inefficient choices. b. an insight to future earnings and revenue generation. c. a definite return on the investment. d. cost effective techniques of production leading to economies of scale.
Some labor union wage contracts contain a cost-of-living adjustment indexed against _____________.
a. inflation b. consumer prices c. cost of materials d. profits
The value of the goods and services Australia purchases from the U.S. are less than the value of goods and services the U.S. purchases from Australia. The U.S. has
a. positive net exports with Australia and a trade surplus with Australia. b. positive net exports with Australia and a trade deficit with Australia. c. negative net exports with Australia and a trade surplus with Australia. d. negative net exports with Australia and a trade deficit with Australia.