Under a fractional-reserve banking system, the money supply cannot change without any action from the Federal Reserve
a. True
b. False
Indicate whether the statement is true or false
False
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How can a nation that is at an absolute disadvantage gain from trade?
What will be an ideal response?
The delivery of first-class mail by the U.S. Postal Service is an example of
A) a monopoly. B) an oligopoly because a few other firms provide delivery of letters and packages. C) perfect competition because consumers have access to other methods of written communication; for example, email and text messaging. D) monopolistic competition, because mail delivery is a differentiated product provided by many firms.
One reason governments impose taxes is to:
A. raise government revenues. B. increase consumer spending. C. spur economic growth. D. encourage more production.
Refer to the diagram, which applies to a private closed economy. The APC is equal to 1 at income level:
A. J.
B. M.
C. H.
D. G.