The Federal Open Market Committee consists of the seven members of the ________, the president of the Federal Reserve Bank of New York, and ________
A) Council of Economic Advisors; four members of the U.S. Banking Committee
B) Council of Economic Advisors; four presidents from the 11 Federal Reserve banks
C) Federal Reserve's Board of Governors; four presidents from the other 11 Federal Reserve banks
D) Federal Reserve's Board of Governors; four members of the Council of Economic Advisors
C
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A firm could differentiate its product by all of the following means except one. Which is the exception?
a. making the product available at a number of different locations b. increasing the number of services that accompany the product c. making the product physically different from other products d. using packaging or advertising to create a special subjective image of the product in the consumer's mind e. emphasizing that the product provides the same benefits to consumers as the others on the market, even when it is really physically different
Using a common resource:
A. creates a positive externality for others. B. maximizes total surplus. C. is an irrational decision. D. imposes a negative externality on others.
Labor unions, when successful, increase the total employment opportunities offered by a firm
a. True b. False Indicate whether the statement is true or false
When the required reserve ratio is lowered,
A. increases, and the amount of excess reserves increases in the banking system. B. decreases, and the amount of excess reserves increases in the banking system. C. decreases, and the amount of excess reserves decreases in the banking system. D. increases, and the amount of excess reserves decreases in the banking system.