Who regulates the quantity of money circulating in the economy?
A) the Federal Reserve
B) the banking system
C) the U.S. Congress
D) the President of the United States
E) The U.S. Congress and the President share the control.
A
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The Black Ash Steel Company's plant belches large quantities of noxious fumes and black ash into the air. Residents in the surrounding area have higher medical bills because of Black Ash's pollution
If the firm is forced to pay the social costs of its production A) the amount of steel it produces will increase in order to pay the additional costs. B) the price it charges for its steel will decrease. C) its supply curve will shift to the right. D) it will produce less and charge more for its steel.
Suppose the production function for good q is given by q = 3K + 2 L where K and L are capital and labor inputs. Consider three statements about this function: I. The function exhibits constant returns to scale. II. The function exhibits diminishing marginal productivities to all inputs. III. The function has a constant rate of technical substitution. Which of these statements is true?
a. All of them. b. None of them. c. I and II but not III. d. I and III but not II. e. only I.
An asset of a bank is
a. the value of money that is on deposit. b. the amount a depositor may legally borrow. c. something of value that the bank owes to a depositor. d. something of value that a bank owns.
A firm is holding excess labor. This will
A. decrease the productivity of capital. B. reduce labor productivity. C. increase the amount of capital employed. D. increase labor productivity.