The chairman of the Federal Reserve:
A. is one of the most important economic positions in the United States, if not the world.
B. has significant direct control over the conduct of monetary policy by the central bank.
C. is appointed by the President and confirmed by Senate for a four-year term.
D. All of these are true.
D. All of these are true.
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The above figure shows a firm in monopolistic competition. At the profit maximizing level of output
A) the firm is making a positive economic profit. B) the firm incurs an economic loss. C) the firm is making zero economic profit. D) this firm would choose to shut down in the short run.
Figure 7.5
The consumer must decide how to split $20 between spending and saving.Refer to Figure 7.5. If the consumer is subject to present bias, he/she will maximize utility at a marginal utility per dollar of ________ utils for consumption and ________ utils for saving.
A. 15; 15 B. 15; 30 C. 30; 15 D. 30; 30
Interindustry trade refers to
A) international trade in products made within the same industry. B) domestic trade in products made within the same industry. C) international trade in products made across different industries. D) the exchange of similar items that are differentiated.
People are not part of the labor force when they
A. Suffer from a temporary illness that keeps them away from their job. B. Go on vacation. C. Are old enough to work but choose not to work. D. None of the choices are correct.