In addition to the chairman of the Board of Governors, the FOMC consists of ________
A) six rotating members of the Board of Governors and five presidents of Federal Reserve banks
B) six other members of the Board of Governors, four rotating bank presidents and the president of the New York Federal Reserve
C) six other members of the Board of Governors and five presidents of Federal Reserve banks; all twelve rotating members
D) twelve Federal Reserve Bank presidents
E) none of the above
B
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There is currently a price ceiling in the market for transplanted kidneys, which has helped to create a shortage of transplanted kidneys
Indicate whether the statement is true or false
Refer to Table 3.1. Suppose that you have a house that you rent out. If you keep the lawn maintained, you can charge a higher monthly rent for the house. Suppose your hourly wage from your job at the mall is $10, what is the net benefit of spending 12 hours per week maintaining the lawn of the house?
A. $120
B. $210
C. $320
D. $330
Platform monopolies initially make large losses because they:
A. receive subsidies from other businesses. B. are trying to gain market share as quickly as possible. C. have to hire high-salary tech employees. D. receive subsidies from government.
Suppose an unregulated monopoly faces a negatively-sloped and steep average cost curve. If a second firm enters, what will happen to the first firm's demand and average cost of production?
What will be an ideal response?