The 12 regional Fed banks do not:
A. Provide loans to banks.
B. Hold reserves for banks.
C. Accept deposits from individuals.
D. Provide currency to banks.
C. Accept deposits from individuals.
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How does a laissez-faire economy decide which consumer gets each of the goods that has been produced?
Economists tend to see taxing an action that produces a negative externality as:
A. the second best solution possible, but often unattainable. B. the best solution possible and often the most attainable. C. the best solution possible, but often unattainable. D. the second best solution possible but one that is attainable.
Suppose Brad Pitt and Angelina Jolie wear matching platinum jewelry in their new movie. After the movie is released, suppose that consumers increase their demand for the jewelry and at the same time manufacturers increase the supply of the jewelry. As a result
A. the equilibrium quantity will decrease, and the equilibrium price will increase. B. the equilibrium quantity will increase, and there is an indeterminate change in the equilibrium price. C. the equilibrium quantity and price are both indeterminate. D. the equilibrium price and quantity will both decrease.
After government and taxes is added to the income-expenditure model, the formula for the aggregate consumption function is
A. C = a + b(Y - T). B. C = a + b(Y + T). C. C = a - b(T - Y). D. C = a - b(Y - T).