Members of the Board of Governors are appointed by the president of the U.S. and confirmed by the U.S. Senate
a. True
b. False
Indicate whether the statement is true or false
True
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Use the figure below to answer the following question.
The figure above shows three supply curves for wheat. Which of the following would cause the supply of wheat to shift from S1 to S3?
A. a tax on wheat production B. a decrease in the price of wheat C. an increase in the price of wheat D. a subsidy for wheat production
The slope of the linear consumption function represents autonomous consumption expenditures
Indicate whether the statement is true or false
Which of the following statements is correct??
A. The fact that the firms in an oligopoly are mutually interdependent means that individual firms do not have any market power. B. All else? constant, a monopoly firm has more market power than a monopolistically competitive firm. C. The amount of market power a firm possesses is unrelated to the type of market in which it operates. D. So long as a firm is sufficiently? large, it will have some amount of market? power, regardless of the type of market in which it operates.
If Utopia has a closed economy, the number of cases of tile consumed each is ________ per year, and if it has an open economy the number of cases of tile consumed is ________ per year.
A. 450; 200 B. 300; 450 C. 300; 200 D. 200; 450