Which of the following sets legal reserve requirements?
a. Board of Governors
b. District Federal Reserve Banks
c. Federal Open Market Committee
d. Federal Advisory Council
e. Treasury Department
A
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Policy that tries to influence target variables by changing the interest rate is called
A) fiscal policy. B) interest rate policy. C) recession policy. D) monetary policy.
Scarcity
a. Can be eradicated with sufficient economic growth. b. Could be eradicated if we could just eliminate greed. c. Can never be eradicated d. Both a. and b. are true
Why are people today, in general, better fed, sheltered, and protected against disease than people were in the past?
a. increased economic growth b. lowered production costs c. more charitable organizations d. less government interference
Suppose you operate a factory producing lawn mowers. Your current level of output is 500 lawn mowers per week. Your weekly variable cost is $40,000. If your total cost is $50,000 per week,
a. average cost of production is $80. b. average cost of production is $100. c. average variable cost of production is $100. d. average fixed cost of production is $100.