The president of the ________________________ holds a permanent seat on the FOMC
A) United States
B) Federal Reserve District Bank of New York
C) Federal Reserve District Bank of San Francisco
D) U.S. Senate banking committee
E) none of the above
B
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Three potential rescuers witness a drowning surfer. Each is willing to rescue the surfer with probability 0.80. What is the probability that the surfer is rescued?
What will be an ideal response?
If you believe that the LM curve is vertical, what type of policy would you recommend to stimulate the economy?
A) An increase in government spending B) A reduction in government spending C) An increase in the money supply D) A reduction in the interest rate
Suppose that a firm's long-run average total costs of producing custom wooden picnic tables is $300 when it produces 10,000 tables and $325 when it produces 11,000 tables. For this range of output, the firm is experiencing
a. economies of scale. b. constant returns to scale. c. diseconomies of scale. d. specialization.
Refer to the diagram, where S d and D d are the domestic supply and demand for a product and P c is the world price of that product. With a P c P t per-unit tariff, per-unit revenue received by domestic and foreign producers respectively will be:
A. P c and P a .
B. P a and P c .
C. P a and P t .
D. P t and P c .