The Federal Reserve System is overseen by the _____.
(A) President
(B) Department of Commerce
(C) Senate
(D) Board of Governors
Ans: (D) Board of Governors
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If a foreign exchange speculator expects the spot rate of the dollar nine months from today to be lower than today's forward rate on the dollar for delivery in nine months, she may
A) buy dollars in the spot market nine months from today. B) sell dollars in the spot market nine months from today. C) sell dollars forward today and buy them in the spot market nine months from today. D) buy dollars forward today and resell them in the spot market nine months from today.
If we take the production function and hold the level of output constant, allowing the amounts of capital and labor to vary, the curve that is traced out is called:
A) the total product. B) an isoquant. C) the average product. D) the marginal product. E) none of the above
Social insurance
a. is the basis for most government redistribution programs. b. is usually community-rated with premiums based on ability to pay. c. is the basis of the provision of medical care to the poor, elderly, and other vulnerable population groups in the U.S. d. requires mandatory participation to be effective. e. all of the above.
Externalities between two firms can be "internalized" if: I. The two firms merge. II. Bargaining costs are zero. III. The externalities affect each firm equally. IV. Marginal costs for both firms are constant. Which statement(s) correctly complete the sentence?
a. Only II b. All except III c. I and II, but not III and IV d. I and IV, but not II and III