Which group is responsible for the policy decision of changing the money supply?
Office of Management and Budget
Federal Open Market Committee
Federal Advisory Council
Thrift Advisory Council
Federal Open Market Committee
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Which of the following actions should be discussed with an attorney before undertaking as the action could be considered legal?
A) an agreement with a customer about the markets in which the customer is allowed to resell the product B) an agreement with a competitor firm not to bid on a contract C) an agreement with a competitor firm submit a low bid on a contract D) an agreement with a competitor firm submit a high bid on a contract
A risk-averse person has
a. utility and marginal utility curves that slope upward. b. utility and marginal utility curves that slope downward. c. a utility curve that slopes down and a marginal utility curve that slopes upward. d. a utility curve that slopes upward and a marginal utility curve that slopes downward.
If firms find that consumers are purchasing more than expected, which of the following would you expect?
A) The economy will adjust to macroeconomic equilibrium as inventories fall, and production and employment fall. B) Aggregate expenditure will likely be greater than GDP. C) Aggregate expenditure will likely be less than GDP. D) The economy will adjust to macroeconomic equilibrium as inventories rise, and production and employment fall.
In a monopolistically competitive market like retail trade, firms can easily enter and exit the market
a. True b. False Indicate whether the statement is true or false