The "invisible hand" works to promote general well-being in the economy primarily through
a. government intervention.
b. the political process.
c. people's pursuit of self-interest.
d. altruism.
c
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An indifference curve has a negative slope because movement along the curve requires the consumer to give up the:
a. marginal utility of one good. b. total utility of one good. c. marginal substitution value (MSV). d. marginal transitivity of one good.
The Federal Reserve Board of Governors consists of:
a. 50 members selected by state legislatures. b. 12 members, one from each Federal Reserve District. c. 12 members nominated by the President and confirmed by the Senate. d. seven members elected by Congress. e. seven members nominated by the President and confirmed by the Senate.
Among the following people, who earns a profit?
a. a construction worker who would work for $40 per hour but actually earns $50 per hour b. a heart surgeon who earns $400,000 a year c. an entrepreneur who earns $25,000 a year d. a land owner who receives $600 per acre for the 1,000 acres he owns e. a homemaker whose work is valued at $100,00 a year even though she earns $0
Which of the following would be categorized as an unconventional monetary policy tool?
A. Targeted asset purchases B. Federal funds rate target range C. Deposit rate D. The interest rate on excess reserves (IOER)