The structure of the Federal Reserve is ___________________.
a. semi-decentralized
b. centralized
c. simple
d. localized
a. semi-decentralized
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If a country produces only two goods, then it is not possible to have an absolute advantage in the production of both goods
Indicate whether the statement is true or false
In terms of improving the standard of living of the poor, one drawback on the earned income tax credit (EITC) is that:
A. it provides no benefits to people who are unemployed. B. it's only available to individuals whose incomes are above a certain threshold. C. it provides workers with in-kind transfers. D. it gives firms a strong incentive to lay off low-wage workers.
Which of the following will most likely cause a nation's currency to appreciate on the foreign exchange market?
A. A decrease in domestic interest rates B. An increase in foreign interest rates C. Domestic inflation of 10 percent while the nation's trading partners are experiencing stable prices D. Stable domestic prices while the nation's trading partners are experiencing 10 percent inflation
Economists once believed utility could be measured. This school of thought, known as utilitarianism, was developed by the English philosopher
A. Henri Leconte. B. Bernard Mandeville. C. Jeremy Bentham. D. John Lennon.