Comparing the European and the U.S. central bank systems, the Governing Council of the European system resembles:
A. the FOMC.
B. the Presidents of the Regional Federal Reserve Banks.
C. the Board of Governors.
D. the Chairman of the Board of Governors of the Fed.
Answer: A
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Refer to the graph shown.
A movement from A to B is most likely to be caused by ________.
A. a decrease in aggregate demand B. an increase in input prices C. a decrease in input prices D. an increase in aggregate demand
Which of the following is true about the indifference curve where one commodity (such as pollution) is "bad"?
A) It has a negative slope. B) It has a positive slope. C) It is horizontal. D) It is vertical.
In a competitive labor market, if a firm pays a worker less than that worker's VMP, then in the long run:
A. competing firms will hire the worker away. B. the supply of workers will fall. C. the firm will earn positive economic profits. D. the worker will have no incentive to work hard.
The highest valued alternative that must be given up in order to choose an option is called the:
A. opportunity cost. B. utility cost. C. scarcity expense. D. accounting cost.