Rent control is an example of a price floor
Indicate whether the statement is true or false
FALSE
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A production possibilities frontier is a diagram that shows the combinations of output that an economy can produce, given its current factors of production and level of technology
a. True b. False Indicate whether the statement is true or false
Which of the following is responsible for providing currency and cash to banks?
A. The Legislative Branch of government. B. Comptroller of the Currency. C. The Federal Reserve System. D. The U.S. Treasury.
An example of an in-kind transfer is
A. low-cost public housing. B. Social Security. C. income tax. D. unemployment benefits.
Under a gold standard in which France defined one franc to be worth 1/50th of an ounce of gold and the U.S. defined one dollar to be worth 1/10th of an ounce of gold, then
A. one U.S. dollar would exchange for five French francs. B. the French franc is worth only one-tenth as much as the dollar is worth. C. the U.S. dollar is valued at one-fifth of the French franc. D. on French franc would exchange for ten dollars.