Which of the following institutions has the responsibility for producing the coins that are distributed in the United States?
A) the U.S. Treasury Department B) the U.S. Mint
C) the Office of the Comptroller of the Currency D) the Federal Reserve System
A
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According to the Keynesian model, an increase in autonomous investment leads to
A) a more than proportional decrease in real Gross Domestic Product (GDP). B) a less than proportional decrease in real Gross Domestic Product (GDP). C) a proportional increase in real Gross Domestic Product (GDP). D) a reduction in taxes, autonomous government spending, and a fall in real Gross Domestic Product (GDP).
Land of Many Lakes (LML) sells butter to a broker in Albert Lea, Minnesota. Because the market for butter is generally considered to be competitive, LML
a. can choose the price at which it sells its butter but not the quantity of butter that it produces. b. can choose quantity of butter that it produces but not the price at which it sells its butter. c. can choose both the price at which it sells its butter and the quantity of butter that it produces. d. cannot choose either the price at which it sells it butter or the quantity of butter that it produces.
A school bookstore tried to engage in price discrimination by selling novels to students and faculty for different prices. Its strategy was to increase prices to faculty and decrease prices to students. What is the most likely reason that this strategy failed?
A. Novels are sold in a competitive market. B. There was nothing to prevent students from purchasing novels and reselling them to faculty. C. Everyone had inelastic demand for novels. D. There was no easy way to distinguish the students from the faculty.
Assume the current interest rate is 20%. The present value of $900 in one year would be
A. $180. B. $450. C. $750. D. $1,080.