Which of the following is true of the Federal Reserve System?
a. It is one central bank located in Washington, DC
b. It was created just before World War II.
c. All Federal Reserve banks are required to also become state banks.
d. With the formation of the Fed, the power to issue bank notes was taken away from national banks and turned over to the state banks.
e. It was notably unsuccessful in averting the Great Depression.
e
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The process by which a quantity grows at a constant proportion in every time period is referred to as:
A) logarithmic growth. B) linear growth. C) vector growth. D) exponential growth.
Consider a good that you do not like at all, perhaps turnips. Given the market price for turnips, what would be your consumer surplus?
What will be an ideal response?
If the price of vanilla ice cream decreases, it is likely that
a. demand for vanilla ice cream will increase b. demand for vanilla ice cream will decrease c. demand for chocolate ice cream will increase d. demand for chocolate ice cream will decrease e. the quantity demanded of vanilla ice cream will decrease
An increase in consumer income will shift both the supply and demand curves.
Answer the following statement true (T) or false (F)