The Federal Reserve System
I. is the central bank for the United States.
II. is a United States government owned bank.
III. is a branch of the Treasury of the United States.
A) I only
B) I and II only
C) I and III only
D) I, II, and III
Ans: A) I only
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If the demand for jelly decreases, and the price of grapes (used to make jelly) rises
A) the equilibrium price of jelly falls and the equilibrium quantity of jelly might rise or fall. B) the equilibrium price of jelly rises and the equilibrium quantity of jelly might rise or fall. C) the equilibrium price of jelly might rise or fall, and the equilibrium quantity of jelly falls. D) the equilibrium price of jelly might rise or fall, and the equilibrium quantity of jelly rises.
Refer to the table below. If these are the only three price options for a bushel of corn, what is the expected value of the price of a bushel of corn?
The above table provides the possible prices for a bushel of corn next year along with the associated probabilities (in percent).
A) $2.50
B) $2.78
C) $2.25
D) $3.00
A tax is imposed on employers and workers that are used to fund Social Security and Medicare. This tax is sometimes referred to as
A) the ACIF.
B) the Income Security Tax.
C) the federal income tax.
D) the payroll tax.
_____ describes the relationship between consumption spending and disposable income
Fill in the blank(s) with the appropriate word(s).