Which of the following is NOT a function of the Federal Reserve System?
A. regulating the money supply
B. offering banking services to households and businesses
C. supervising member banks
D. acting as the fiscal agent of the federal government
Answer: B
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The graph illustrates the market for British pounds, the currency of the United Kingdom. As the number of buyers of pounds increases and the number of sellers of pounds increases, the equilibrium price of a pound
A) will fall B) will rise. C) will remain the same. D) might rise, fall, or remain the same depending on whether the effect on buyers is larger than, less than, or the same as the effect on sellers. E) None of the above answers is correct.
If the production possibilities frontier between bottled water and water in a jug is a straight line, which of the following statements would be correct?
A) Resources are equally productive at producing either product. B) There is no decrease in the production of one good when the production of the other is increased. C) There is no tradeoff between the two goods. D) A large amount of unemployment must exist. E) Producing more of one good gives the economy a free lunch.
When a park is funded by visitors, but not by taxpayers in general,
a. there will be too few parks, because most people will not pay to use a park. b. visitors will be better served, because poor service would lead to reductions in revenues. c. park budgets will decline. d. park quality will decline.
Marginal
What will be an ideal response?