The Federal Reserve System performs many functions but its most important one is
A. providing for check clearing and collection.
B. acting as fiscal agent for the U.S. government.
C. issuing currency.
D. controlling the money supply.
Answer: D
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Voluntary exchange results in mutual gains.
Answer the following statement true (T) or false (F)
Using a graph, explain both the substitution effect and income effect that result from an increase in the price of a normal good.
What will be an ideal response?
The questions below are based on the table below. Fill in the blank spaces first. 
If the product market is perfect and the labor market is imperfect, what will be the wage rate paid to the laborer?
What will be an ideal response?
Individual consumers supply ________ and purchase ________.
A. national goods and services; factors of production B. intermediate goods; final goods and services C. final goods and services; factors of production D. factors of production; final goods and services