The Federal Reserve System is made up of twelve regional banks owned by
A) commercial banks in the respective districts that have chosen to be members of the Fed.
B) Wall Street investors.
C) the Board of Governors appointed by the President.
D) the U.S. Treasury.
Ans: A) commercial banks in the respective districts that have chosen to be members of the Fed.
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Use the following table to answer the question below. Jane's Production Possibilities SchedulePounds of Green BeansPounds of Corn08020604040602080 0Jane's opportunity cost of producing 1 pound of corn is ________ pound(s) of green beans.
A. 2 B. 4 C. 1/2 D. 1
The figure above shows the market for coffee. The ________ price that producers must be offered to get them to produce 10 million pounds of coffee per month is ________
A) maximum; $2.00 B) maximum; $3.50 C) minimum; $2.00 D) minimum; $3.50
Scarcity means we are unable to have as much as we would like to have
a. True b. False Indicate whether the statement is true or false
For a horizontal demand curve,
a. the slope is undefined, and the price elasticity of demand is equal to 0. b. the slope is equal to 0, and the price elasticity of demand is undefined. c. both the slope and price elasticity of demand are undefined. d. both the slope and price elasticity of demand are equal to 0.