The Federal Reserve consists of ________ regional banks, ________ governors on the Board of Governors, and ________ voting members of the Federal Open Market Committee.
A. 12; 7; 19
B. 14; 7; 21
C. 7; 12; 12
D. 12; 7; 12
Answer: D
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Increases in import spending _____________________, ceteris paribus
A) raise GDP B) lower GDP C) are always equal to decreases in exports D) may raise or lower GDP
Being a price taker essentially means
A) a firm can influence the market price. B) a firm cannot influence the market price. C) the firm cannot legally set its price above the market price. D) the firm cannot legally set its price below the market price.
Based on the information in the above table, the price of A is $3, the price of B is $2, and the price of C is $5. If Mary has $22 to spend, what combination of products A, B, and C should she buy in order to maximize her satisfaction?
In the neoclassical theory of growth, growth in ________ is the result of luck
A) saving B) income C) technology D) the real interest rate