In the United States, the reserve requirement is set by the:
a. Bank of America.
b. federal government.
c. U.S. Treasury.
d. Federal Reserve Board.
e. Department of Commerce.
d
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According to the Phillips Curve, which of the following may have taken place if both the unemployment rate and inflation have risen?
A) a negative supply shock B) an increase in expected inflation C) a severe recession D) a negative demand shock
On holiday weekends thousands of people picnic in state parks. Some picnic areas become so overcrowded the benefit or value of picnicking diminishes to zero. Suppose that the Minnesota State Park Service institutes a variable fee structure. On weekdays when the picnic areas get little use, the fee is zero. On normal weekends, the fee is $8 per person. On holiday weekends, the fee is $14 per
person. The fee system corrects a problem known as the a. Coase theorem. b. free rider problem. c. Tragedy of the Commons. d. public goods problem.
Transaction costs
What will be an ideal response?
The marginal cost curve always intersects the average total cost curve at the minimum of average total cost.
Answer the following statement true (T) or false (F)