List the two main functions performed by the Fed?
The Fed performs two main functions:
1) The Fed regulates banks and, to a broader extent, ensures the health of the banking system.
2) The Fed controls the quantity of the money supply.
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A trade-off between unemployment and inflation is reflected in the
A) economic stability. B) nonaccelerating inflation rate of unemployment (NAIRU). C) natural rate of unemployment. D) Phillips Curve.
Arnie's Airlines decides to offer different fares to different customers for the same tri
A) wants to convert consumer surplus to deadweight loss. B) wants to help some buyers with lower fares. C) has different costs for the same flight. D) wants to convert consumer surplus to economic profit. E) wants to convert producer surplus to consumer surplus.
A low concentration ratio suggests
A) a high degree of monopolization. B) a high degree of competition. C) that wages are a low share of costs. D) that wages are a high share of costs.
Refer to the Article Summary. Assume that after the record decline in U.S. farm income in 2015, farmers are expected to break even in 2016. This means that at the quantity being produced in 2016
A) MR =ATC. B) AVC =ATC. C) MC =AVC. D) MR =MC.