The National Bank Act of 1863, and subsequent amendments to it
A) created a banking system of state-chartered banks.
B) established the Office of the Comptroller of the Currency.
C) broadened the regulatory powers of the Federal Reserve.
D) created insurance on deposit accounts.
B
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________ unemployment measures those out of work during the off-season, such as those employed in snow- or beach-related industries, agriculture, and/or holiday activities.
A) Seasonal B) Frictional C) Structural D) Cyclical E) Temporary
Where L represents labor and X represents output, MPL x PX is the value of labor's marginal product while the wage rate is the
A. marginal revenue of a unit of output. B. marginal cost of a unit of output. C. value of labor's marginal revenue. D. cost of a marginal unit of labor.
A power plant in Illinois produces electricity by burning coal. This results in acid rain that kills trees and wildlife in New York. This is an example of
A. A private cost. B. A public bad. C. An external cost. D. Inequity.
When we compare the records of the CPI and the PCE price index over time, the
A) two are very different in magnitude. B) PCE price index tends to exceed the CPI. C) CPI tends to exceed the PCE price index. D) two measures are identical. E) CPI tends to exceed the PCE price index when inflation is high, and the PCE price index tends to exceed the CPI when inflation is low.