The central bank of the United States is the
a. Federal Reserve Banking System
b. First National Bank
c. Comptroller's Bank
d. United States National Bank
e. U.S. Treasury Bank
A
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Refer to Scenario 12.2. The ideal mixed strategy for Eliza has her donating her kidney with ________ probability
A) 15% B) 25% C) 45% D) 75%
Imagine that the economy is at a point that is above both AA and DD, where both the output and asset markets are out of equilibrium. Which first action is TRUE?
A) The economy will stay at this level in the short run. B) The exchange rate will first drop to a point on the AA schedule. C) The exchange rate will first move to a point on the DD schedule. D) The AA-DD equilibrium will shift to the position of the economy. E) The exchange rate will first move left to a position on the AA schedule.
When actual real GDP is equal to the natural real GDP, the unemployment rate is
A) zero. B) at its "natural" rate. C) accelerating. D) decelerating.
An effective government imposed price ceiling will result
A) in a surplus on the market. B) in a shortage on the market. C) in additional revenue for the government. D) in prices for the product falling in the future.