Which of the following is not a major responsibility of the Fed?
A) supplying the economy with paper money
B) providing check-clearing services
C) supervising member banks
D) serving as fiscal agent for the Treasury
E) All of the above are major responsibilities of the Fed.
E
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Who still has to economize?
A) The senior citizen who receives a 10% discount at the local coffee shop B) The day-after-Christmas shopper who enjoys sales of up to 70% on holiday merchandise C) Bill Gates D) All of the above. E) None of the above.
When Roxanne, a U.S. citizen, purchases a designer dress from Barneys of New York that was made in Milan, the purchase is
A) a U.S. import and an Italian export. B) both a U.S. and an Italian import. C) a U.S. export and an Italian import. D) neither an export nor an import for either the United States or Italy.
Two goods are Hicks (net) substitutes if a rise in the price of one causes a(n):
a. decline in the quantity demanded of the other holding nominal income constant. b. increase in the quantity demanded of the other holding nominal income constant. c. decline in the quantity demanded of the other holding utility constant. d. increase in the quantity demanded of the other holding utility constant.
If Coca-Cola opens a bottling plant in Brazil, what effect would it have on that country's Gini coefficient?