How long are the terms of members of the Board of Governors in the Federal Reserve System?
a. 2 years
b. 4 years
c. 6 years
d. 14 years
e. The remainder of the governor's life.
D
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If total consumer expenditures (in dollars) for bus transportation were to increase when the price of bus transportation was raised, the demand for bus transportation probably
A) had decreased. B) had increased. C) violated the law of demand. D) was elastic. E) was inelastic.
An increase in the corporate profits tax will most likely lead to
a. a decrease in the rental rate of capital in the corporate sector. b. no change in the rental rate of capital in the corporate sector. c. no change in the rental rate of capital in the non-corporate sector. d. an increase in the rental rate of capital in the corporate sector.
A fixed exchange rate regime enhances the power of a country's central bank
Indicate whether the statement is true or false
The monopolistically competitive firm in short-run equilibrium
A. faces a downward-sloping demand curve. B. has a marginal revenue curve which lies below its demand curve. C. maximizes profit where MR = MC. D. All of the responses are correct.