In autarky, when a community maximizes its standard of living, its consumption point is
A) below the production possibility frontier.
B) on the production possibility frontier.
C) above the production possibility frontier.
D) can't tell without more information.
B
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If the production of a good creates pollution, then the
A) marginal social benefit curve lies above the marginal private benefit curve. B) marginal social cost curve lies above the marginal private cost curve. C) marginal social benefit curve lies below the marginal private benefit curve. D) marginal social cost curve lies below the marginal private cost curve.
The buying and selling of government bonds to influence reserves in the banking system is the responsibility of the:
A. Twelve regional Federal Reserve banks. B. Executive Branch of the government. C. Board of Governors of the Federal Reserve. D. Federal Open Market Committee.
Over the past several decades in the United States, the labor-force participation rate of women has
a. increased, and the labor-force participation rate of men has increased. b. increased, and the labor-force participation rate of men has decreased. c. decreased, and the labor-force participation rate of men has increased. d. decreased, and the labor-force participation rate of men has decreased.
Who determines the open-market operations of the Federal Reserve System?
A. FOMC B. Board of Governors C. FHLBB D. FDIC