The Federal Reserve is
A. a system of banks that includes all private banks.
B. one single bank.
C. a system of 12 banks located all around the country.
D. a system of 12 banks all located in Washington, DC.
Answer: C
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Monopolistic competition tends to lead firms to have wasted capacity. Why?
What will be an ideal response?
Suppose you have a choice between receiving a lump-sum payment of $10,000 today or four annual payments of $2,750 (with the first payment one year from today). Of the following, which is the lowest annual interest rate at which you would prefer the lump-sum payment over the four annual payments?
a. 2% b. 5% c. 7% d. 10%
One productivity standard for income distribution stated in the text is
A. tax payments are higher for higher income people. B. poor people pay too much in taxes. C. the poor should contribute more to society. D. income distribution should be based on contribution to society's total output.
If unplanned investment is $45 million and planned investment is $45 million, then actual investment is
A. $90 million. B. $45 million. C. zero. D. -$45 million.