Various studies have recommended changes in the Federal Reserve structure and policy that include
a. having Congress set the discount rate.
b. placing monetary policy in the control of Congress.
c. dissolving the Board of Governors.
d. making each appointment to the Board of Governors a lifetime appointment.
b. placing monetary policy in the control of Congress.
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Moral hazard results from ________ information and adverse selection results from ________ information
A) private; private B) private; public C) public; private D) public; public
When _____, we are at the optimal amount of pollution
a. pollution is at zero b. pollution is equal to the amount produced in an unregulated market c. the total cost of pollution is equal to the total cost of pollution abatement d. the marginal cost of pollution is equal to the marginal cost of pollution abatement
If the rate of interest increases, firms will most likely respond by
a. increasing investment. b. decreasing investment. c. not changing investment. d. increasing capital stock.
Which statement is true?
A. The highest paid professional athletes earn economic rent. B. Economic rent is paid on land, but not in the form of wages. C. Economic rent is earned mainly by the poor and the lower middle class. D. Economic rent is paid in proportion to the marginal revenue product of a resource.