The members of the Federal Reserve's Board of Governors
a. are appointed by the president of the U.S. and confirmed by the U.S. Senate.
b. serve six-year terms.
c. are also the presidents of the regional Federal Reserve banks.
d. share power equally, with no governor having any more influence or power than any other governor.
a
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For a closed economy with no government, we know that at every level of GDP actual investment equals
A) the difference between planned investment and actual saving. B) the difference between planned saving and actual saving. C) planned investment. D) planned saving.
When some resources used in production are only available in limited quantities, it is likely that the long-run supply curve in a competitive market is
a. downward sloping. b. upward sloping. c. horizontal. d. vertical.
(Appendix) A daily production function for calculators is Q = 12L2 - L3. Show all your work for the following questions.a) What is the marginal product equation for labor?b) What is the APL function?
What will be an ideal response?
Given the market rate of interest, the present value of $10,000 to be received after a period of 5 years
A. will be more than the present value of $10,000 to be received after a period of 4 years. B. will be less than the present value of $10,000 to be received after a period of 6 years. C. will be more than the present value of $10,000 to be received after a period of 6 years. D. will be the same as the present value of $10,000 to be received after a period of 6 years.