Which is the most important category of Fed assets?
A) securities
B) discount loans
C) gold and SDR certificates
D) cash items in the process of collection
A
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Jane produces only corn, measured in tons, and cloth, measured in bolts. For her, the opportunity cost of one more ton of corn is
A) the same as the opportunity cost of one more bolt of cloth. B) the inverse of the opportunity cost of one more bolt of cloth. C) the ratio of all the bolts of cloth she produces to all the tons of corn she produces. D) the ratio of all the tons of corn she produces to all the bolts of cloth she produces.
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A. is both process- and outcome-oriented. B. is neither process- nor outcome-oriented. C. is not a process-oriented notion of equity. D. is not an outcome-oriented notion of equity.
Answer the following statements true (T) or false (F)
1. The current base year for the CPI is 1985. 2. If a worker’s money wage increases at a faster pace than the CPI, his or her real wage will rise. 3. As income or spending patterns change substantially, it is wise to change the base year of the CPI. 4. The CPI does not necessarily make adjustments for improvement in the quality of goods and services in the market basket. 5. Real wages are determined by multiplying money wages by the CPI.
Each of the following, except one, might be a barrier to entry into a labor market. Which is the exception?
a. government restrictions b. cost-of-living differentials c. labor unions d. discrimination e. professional organizations