When output is below the full employment level of real GDP, the Federal Reserve banks should ________.
A. sell bonds
B. raise the federal funds rate
C. raise the discount rate
D. lower the reserve ratio
Answer: D
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Refer to the table below. The law of diminishing marginal returns becomes evident after ________ units of output are produced.OutputPer DayNumber ofEmployeeHours Per Day00331662994132716511
A. 66 B. 33 C. 132 D. 99
In 2005, SSI recipients received more than twice the average monthly payment than TANF recipients got
Indicate whether the statement is true or false
The amount of a good that must be given up to produce another good is the concept of:
a. scarcity. b. specialization. c. trade. d. efficiency. e. opportunity cost.
In general, the price elasticity of demand for milk will be less than that for Apple's iPod
Indicate whether the statement is true or false