The Fed relies primarily on the discount rate to control the money supply
a. True
b. False
Indicate whether the statement is true or false
False
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Compared with the U.S., developing countries
a. face geographic conditions that limit productivity. b. have universal health care that prevent the spread of diseases. c. more political stability. d. higher levels of educational attainment.
A statement of assets and liabilities of any business entity is
A) a sweep account. B) legal reserves. C) a balance sheet. D) net worth.
Regulating an industry to remove all economic profit
A. removes all incentive for efficiency and responsiveness to consumer demand. B. removes distortions caused by cross subsidies. C. removes allocative inefficiency. D. increases incentives to be productively efficient.
Assume that a manufacturer of stereo speakers purchases $40 worth of components for each speaker. The completed speaker sells for $70. The value added by the manufacturer for each speaker is:
a) $110. b) $30. c) $40. d) $70.