The Federal Reserve System is owned by:
A. federal government agencies such as the Treasury.
B. the Congress of the United States.
C. the banks that are members of the Federal Reserve System.
D. anyone who buys stock over the counter.
Answer: C
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A public highway looks like a collective consumption good because there is very little traffic on it and zero congestion. Hence the marginal cost of an additional car is zero
Which of the following statements best describes why we should not assume that the road would always be a collective consumption good? a. The lack of congestion could be the result of government overproduction. b. The lack of congestion could be because of its low speed limit. c. The lack of congestion could be because of excessive police ticketing. d. The lack of congestion is because of the lower cost of alternative means of travel.
Which of the following does NOT influence the type of oligopoly that forms?
A) Whether firms act sequentially or simultaneously. B) Whether firms set price or quantity. C) The type of demand curve the firms face. D) The time horizon over which firms will be in competition.
Depletion of tropical rainforests is an example of
a. a negative externality b. the use of variable technology c. adverse selection d. the use of fixed technology e. a clearly defined property right
Right-to-work laws give workers in a unionized firm the right to choose whether to join the union
a. True b. False Indicate whether the statement is true or false