Who appoints the chair of the Federal Reserve System?
A. the Senate and Congress
B. member banks of the Federal Reserve System
C. the Federal Open Market Committee (FOMC)
D. the President of the United States
Answer: D
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________ creates an informational equilibrium in which people trust the wisdom of others and ignore their own information
A) Anchoring B) Hedging C) Sniping D) Herding
A tax that takes a smaller percentage of an individual's income as their income rises is called a _____
a. proportional tax b. progressive tax c. sumptuary tax d. regressive tax
Which of the following items is excluded from GDP?
A. services a barber performs in repairing his own hair-cutting equipment B. production and sale of hair-cutting equipment C. the construction of a new barbershop D. services a barber performs in cutting hair
What are the key managerial insights derived from game theory? Which one is the most important?
What will be an ideal response?