The Fed was founded in 1913 to serve as lender of last resort to bankers during bank runs and panics
Indicate whether the statement is true or false
TRUE
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Suppose that Jesse Eisenberg had been offered a bigger and better part in another movie and that to hire him for The Social Network, the producer had to double Jesse's pay
What incentives would have changed? How might the changed incentives have changed the choices that people made?
Assuming that good "x" is measured on the x-axis and good "y" is measured on the y-axis, if the utility for the two goods "x" and "y" can be measured as U = x, then it can be concluded that
A) "x" and "y" are perfect complements. B) "y" is a "bad". C) the indifference curves on the x,y graph are upward sloping. D) the indifference curves on the x,y graph are vertical.
Assuming that pollution cannot be removed from the environment at zero cost, the optimal level of pollution
A) will be zero. B) will be negative. C) will be greater than zero. D) cannot be determined.
If a 10 percent change in the price of a good caused a 10 percent change in the quantity demanded of the good, we would say that over this range of prices the good has a(n)
A) elastic demand. B) inelastic demand. C) perfectly elastic demand. D) unit elasticity of demand.