Believers in public choice see government bureaucrats choosing the level of public goods based on their desire to keep their jobs
Indicate whether the statement is true or false
T
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Answer the following statements true (T) or false (F)
1. The members of the Board of Governors of the Federal Reserve System are appointed by the U.S. president. 2. Members of the Board of Governors are appointed for five-year terms. 3. All members of the Board of Governors are members of the Fed’s Open Market Committee. 4. Each Federal Reserve Bank can issue Federal Reserve notes. 5. Each District Reserve Bank has branch banks.
Which of the following is a necessary condition for price discrimination to be profitable?
a. All consumers must have an identical demand for the product. b. Groups of consumers with different demand elasticities must be easily distinguishable. c. The market demand for the product must be highly elastic. d. It must be possible for buyers to resell the product at a low cost.
Among possible union strategies, the one that can both raise wages and add to employment is
A. restricting the supply of workers. B. raising the demand curve for the product or for labor. C. fixing the wage. D. striking frequently.
Leontief discovered a "paradox" in his test of the HOmodel for the United States. He expected the United States to export _____intensive goods and import _____ intensive goods; but his study indicated the reverse was TRUE.
a. land; technology b. labor; land c. capital; labor d. labor; capital