In the United States, monetary policy is the responsibility of the:
A. U.S. Treasury.
B. Department of Commerce.
C. Board of Governors of the Federal Reserve System.
D. U.S. Congress.
C. Board of Governors of the Federal Reserve System.
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The relationship between the quantity of money balances demanded and the interest rate is
A) contractionary monetary policy. B) determined by open market operations. C) negative. D) the reserve requirements.
Which of the following cost curves always declines continuously as output increases?
a. ATC b. AVC c. AFC d. MC e. TC
When a production function is graphed with Real GDP on the vertical axis and labor on the horizontal axis, a rise in labor ________________________, and a rise in capital __________________
A) shifts the production function upward; also shifts the production function upward B) shifts the production function downward; shifts the production function upward C) moves us up along a given production function; shifts the production function upward D) shifts the production function upward; moves us up along a given production function
Scientists sent the Cassini spacecraft past Saturn, where it discovered rings around Saturn's moon Rhea. This is an example of
A. technological diffusion. B. applied research. C. product development. D. basic research.