The main policy-making organ of the Federal Reserve System is
A) the Board of Governors.
B) the Federal Reserve branch banks.
C) the Federal Reserve chairman and the Federal Reserve branch bank presidents.
D) the Federal Open Market Committee.
D
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Use the figure above to answer this question. Figure ________ shows a short-run equilibrium in good times because the firm makes a(n) ________
A) A; economic profit B) A; normal profit C) B; normal profit D) B; economic loss E) C; normal profit
Which of the following statements is false?
a. In a competitive market, the price mechanism encourages conservation of a depletable resource. b. As the price of a depletable resource rises, its known reserves often increase. c. Prices of depletable resources have risen in the twentieth century primarily because resource producers have exercised monopoly or oligopoly power. d. Shortages of depletable resources occur primarily when governments or others interfere with the price mechanism.
An increase in an economy's productive resources will lead the production possibilities curve to:
A. shift outward. B. become flatter. C. shift inward. D. stay the same.
Fluctuations in economic performance is one of the two basic issues of macroeconomics. The other is
A) tracking unemployment. B) monitoring inflation rates. C) long-run economic growth. D) keeping interest rates in check.