The Federal Reserve System was created in
A) 1836.
B) 1863.
C) 1913.
D) 1945.
C
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Suppose that the price of lettuce used to produce tacos increases. This change means that the equilibrium price of a taco ________ and the equilibrium quantity ________
A) rises; increases B) rises; decreases C) falls; increases D) falls; decreases E) does not change; decreases
In Figure 3-4 above, an equilibrium income of 2000 occurs when planned autonomous spending is
A) 750. B) 800. C) 1250. D) 250.
What is the result of an agricultural support price established above the equilibrium price?
A) The market gravitates toward and remains in equilibrium. B) There will be excess quantity supplied of the product involved. C) There will be excess quantity demanded the product in this market. D) Since the support price is set above the equilibrium price, it will have no impact on the market price.
American poverty is more about absolute deprivation, and poverty in the rest of the world is more about relative deprivation.
Answer the following statement true (T) or false (F)