The Federal Reserve System is built around
a. four regional banks.
b. six regional banks.
c. twelve district banks.
d. one bank with several branches.
c. twelve district banks.
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Your opportunity cost of choosing a particular activity
a. can be easily and accurately calculated b. cannot even be estimated c. does not change over time d. varies, depending on time and circumstances e. is measured by the money you spend on the activity
Which of the following goods is rival in consumption and excludable?
a. a DVD b. a movie in an empty theater c. an outdoor movie shown at a public park d. a movie shown on cable television.
The figure below shows the supply and demand curves for jeans in Smallville.
Suppose jeans initially sell for $60 per pair. If the price of jeans falls to $40 per pair, then total economic surplus will increase by ________ per day.
A. $40 B. $20 C. $80 D. $160
The following are national income account data for a hypothetical economy in billions of dollars: government purchases ($1130), personal consumption expenditures ($4800), imports ($370), exports ($240), and gross private domestic investment ($1150). Personal consumption expenditures are approximately what percentage of this economy?
A. 69 percent. B. 75 percent. C. 65 percent. D. 60 percent.