As the central bank, the Federal Reserve System provides banking services to
A) banks and regulates financial institutions and markets.
B) foreign corporations and determines the exchange rate.
C) the government and the stock market.
D) individuals and controls the quantity of money.
E) banks and determines how much the U.S. government will borrow.
A
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In the Keynesian model, a $5 billion decrease in investment leads to ________ in equilibrium output.
A. a $5 billion decrease B. no change C. a $5 billion increase D. a greater than $5 billion decrease
Dominant firms tend to lag in innovation because
A) of the sunk cost effect. B) entrepreneurs are found in smaller firms. C) they are usually focused on market share. D) all of these choices.
An economic explanation as to why individuals such as Bill Gates and LeBron James don't finish college is that:
A. the sunk cost of college is very high for them. B. the opportunity cost of college is very high for them. C. the benefits of additional college exceed the costs of additional college for them. D. the decision not to finish college is irrational.
The concept of laissez faire calls for government intervention if market failure is evident.
Answer the following statement true (T) or false (F)