Policy independence for the Federal Reserve is logically similar to allowing the ________
A) National Oceanographic and Atmospheric Administration to select the nation's weather
B) Congressional Budget Office to estimate the government's expenditures
C) individual states to set highway speed limits
D) Social Security Administration to determine benefit levels and eligibility requirements
D
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Suppose the demand for peaches from South Carolina is perfectly elastic. If the supply curve is upward sloping and a tax is imposed on peaches from South Carolina, then
A) peach sellers pay all of the tax. B) peach buyers pay all of the tax. C) peach buyers and sellers evenly split the tax. D) the government does not collect any revenue from the tax. E) the tax does not change the equilibrium quantity of peaches.
The primary source of colonial productivity growth in agriculture was:
a. learning by doing. b. an increased capital-labor ratio. c. technology improvements. d. the introduction of hybrid seeds and fertilizer.
If firms believe that business is expanding, then at any given wage they will desire to hire a _________ quantity of labor, and the labor demand curve shifts to the _____.
a. greater; left b. greater; right c. lower; left d. lower; right
Why do Americans want to buy pounds?
a. To buy goods and services from British firms and to buy British assets. b. To purchase a British soccer shirt in New York. c. To purchase stock in British companies on the New York Stock Exchange. d. To purchase Canadian bonds. e. To buy goods and services only.