The chairman of the Federal Reserve is considered one of the most important economic positions in the world because this person has significant direct control over the conduct of:
A. international trade policy in the United States.
B. fiscal policy in the United States.
C. monetary policy in the United States.
D. government budget in the United States.
Answer: C
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Refer to the figure above. What does the region ABDC indicate?
A) Economic profit B) Loss incurred by the producer C) Consumer surplus D) Deadweight loss
Bargaining between the management of a company and the management of a union is
A) a closed shop. B) a bilateral monopoly. C) a craft union. D) collective bargaining.
Business should take government actions as
A) given. B) something that must be recognized in decision-making. C) a passive factor with little impact. D) enhancing efficiency.
An article in the textbook suggests that one method to correct the higher education inefficiency is to
a. provide free higher education to all Americans. b. have college students sell equity in themselves. c. reduce interest rates on student loans. d. increase the number of colleges and universities in the United States.