During the Great Depression, the Federal Reserve Board:
a. prevented many bank failures
b. failed to act as a lender of last resort.
c. failed to clear checks adequately.
d. began operating as the government's bank.
e. issued too many bank notes.
b
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Which of the following is true of monopolistic competition?
A) There is only one seller in this market structure. B) The product sold by each seller in this market structure is identical. C) The firms in this market structure earn huge economic profits in the long run. D) There are a large number of sellers each selling a differentiated product.
Policies that mandate the installation of specific pollution control devices are called
A) incentive policies. B) benefit policies. C) welfare policies. D) command-and-control policies.
One problem that investors in foreign countries face is the possibility of a decline in the value of that foreign country's currency. Which of the following would be an effective way to offset this problem?
A) Be ready to pull out at the first sign of trouble. B) Convert as many of your dollars into their dollars as possible. C) Hedge through currency swaps. D) Finance your investment outside of that country.
Producer surplus is
a. measured using the demand curve for a good. b. always a negative number for sellers in a competitive market. c. the amount a seller is paid minus the cost of production. d. the opportunity cost of production minus the cost of producing goods that go unsold.