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.
e. people who have deposits in member banks.
c
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Acme is a perfectly competitive firm. It has the cost schedules given in the above table and has a fixed cost of $12.00. The price of Acme's product is $4.00
What is Acme's most profitable amount of output? What is Acme's total economic profit or loss?
If the demand for a good increases at the same time the supply of the good decreases, what happens to equilibrium price and quantity?
A. Equilibrium quantity increases, but the effect on equilibrium price is ambiguous. B. Equilibrium quantity decreases, but the effect on equilibrium price is ambiguous. C. Equilibrium price increases, but the effect on equilibrium quantity is ambiguous. D. Equilibrium price decreases, but the effect on equilibrium quantity is ambiguous.
The demand curve for loanable funds is downward sloping because
A. people save more at higher interest rates. B. more investments are profitable at low interest rates than at high interest rates. C. future income is more valuable now at higher interest rates than at low interest rates. D. Usury laws increase the quantity of funds demanded at low interest rates but do not affect the quantity of funds demanded at high interest rates.
After subtracting all deductions and exemptions from total income, you are left with
A. the tax base. B. marginal income. C. standardized income. D. taxable income.