All of the following are components of the Federal Reserve system except the:
A. Federal Deposit Insurance Corporation.
B. 12 regional Federal Reserve banks.
C. Federal Open Market Committee.
D. Board of Governors.
Answer: A
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Rational ignorance suggests that voters will
A) be ignorant about all issues. B) be ignorant about issues that are of no special interest to them. C) pursue information on all issues before voting. D) avoid voting if they have no information.
If the demand curve for a product was vertical, then the elasticity of demand would be: a. equal to zero
b. equal to one. c. greater than one, but less than infinity. d. equal to infinity.
When an economy is experiencing an economic boom and operating beyond its long-run capacity,
a. strong demand for investment funds will push interest rates upward. b. weak demand for resources will push the prices of resources downward. c. weak demand for investment funds will cause the real interest rate to decline. d. the unemployment rate will be greater than its natural rate.
If this firm produces at its most efficient output level it would produce at about _____ units.
A. 150
B. 200
C. 250
D. 300