For how long is the chairman of the board of governors of the Fed appointed and by whom?
a. Appointed for two years by all the other governors
b. Appointed for two years by the governor of the New York district branch
c. Appointed for two years by the president of the United States
d. Appointed for four years by all the other governors
e. Appointed for four years by the president of the United States
e
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Currently in the United States, resale price maintenance agreements ________ illegal per se and ________ judged using the rule of reason approach.
A) are not; are not B) are; are C) are not; are D) are; are not
Which of the following demonstrates marginal thinking? a. Deciding to never eat meat
b. Deciding to spend one more hour studying economics tonight because you think the improvement on your next text will be large enough to make it worthwhile to you. c. Deciding to go to a Sociology class that you usually skip because there is a guest lecturer you are really interested in hearing that day. d. Both b. and c. demonstrate marginal thinking.
A rational individual would rather receive $5,000 today than receive $6,000 in one year if the applicable nominal interest rate was 10%
a. True b. False Indicate whether the statement is true or false
Taking money from a wealthy individual in order to feed a destitute family would be a Pareto improvement
a. True b. False