The major policy-making group within the Fed is the __________ Committee
A) Federal Reserve Tax
B) Federal Reserve Banking
C) Federal Open Market
D) Federal Reserve Decision-Making
E) Regional Bank
C
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The change in total cost from producing another unit of output equals the
A) average total cost. B) variable cost. C) average variable cost. D) marginal cost.
Professor Cowen suggests that gift-giving can create value for each of the following reasons EXCEPT:
A. gift-giving can lower search costs. B. some gifts are given for paternalistic reasons. C. gifts can signal our values or intentions. D. the cost of the gift for the recipient is zero.
According to Keynes, cyclical unemployment is caused by too
A. Much aggregate supply. B. Much aggregate demand. C. Little aggregate demand. D. Little aggregate supply.
Refer to the above table. When the quantity of labor equals 2, what does the average product equal?
A. 26 B. 46 C. 23 D. 92