The Federal Reserve System acts as the government's fiscal agent by
A) auditing taxpayers.
B) providing checking account services for the government.
C) preparing the budget the President presents to Congress every year.
D) determining how to finance a deficit.
B
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A monopoly’s marginal revenue curve is always
a. is always above the demand curve. b. identical to that of a perfectly competitive firm. c. twice as steep as the demand curve. d. none of the above.
If the market price is $50 for a unit of a good produced in a perfectly competitive market and the firm's minimum average variable cost is $52, then to maximize its profit (or minimize its loss) the firm should
A) definitely produce the unit. B) shut down. C) not produce the unit but remain open. D) not produce the unit. Whether the firm should shut down or remain open cannot be determined without more information. E) produce the unit only if the price exceeds the average fixed cost.
Which of the following is true?
a. In 2002, national defense accounted for more than half of federal spending. b. Federal spending on national defense has increase rapidly during the last several decades. c. Federal spending on health care programs such as Medicare and Medicaid has increased rapidly during the last several decades. d. Federal spending in the aftermath of hurricane Katrina expanded over 50%.
Explain reasons that may make payments based on marginal productivity have widely varied results.
What will be an ideal response?