Which of the following is one way the Federal Reserve Bank serves the government?
(A) Financing state government projects.
(B) Making loans to the government.
(C) Minting coins for the government.
(D) Selling government securities.
Ans: (D) Selling government securities.
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Which of the following is an example of differentiated goods?
A) Books and cosmetics B) Fuel and water C) Potatoes grown by different farmers D) Tea and energy drinks
According to some economists and policy makers, the solution to Spain’s high youth unemployment is to
a. reduce government-mandated wages, which would allow it to reduce government spending. b. increase government-mandated wages, which would allow it to reduce government spending. c. increase government-mandated wages, which would allow it to increase government spending. d. reduce government-mandated wages, which would allow it to increase government spending.
Economic mobility in the United States is so great that fewer than
a. 3 percent of families are poor for 8 or more years. b. 5 percent of families are poor for 8 or more years. c. 8 percent of families are poor for 8 or more years. d. 10 percent of families are poor for 8 or more years.
Refer to the information provided in Table 8.1 below to answer the question(s) that follow.
Table 8.1 
Refer to Table 8.1. In the short run, if the price of labor (L) is $5 per unit, the price of capital (K) is $10 per unit, and firms attempt to minimize costs, then this firm's total cost of producing one unit of output is
A. $100. B. $120. C. $220. D. indeterminate from this information.