Which of the following expresses 5.5%?
A. 0.0055
B. 0.550
C. 5.50
D. 0.0550
Answer: D
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Members of the Federal Reserve Board of Governors can set monetary policy in relative independence of political pressures because
A) monetary policy is too complex to be understood by the general public. B) their authority derives from the Constitution rather than popular election. C) they are not allowed to belong to any political party. D) they hold their positions for fourteen-year terms.
A natural monopoly occurs when
A) one firm owns all the vital resources needed to produce a particular good. B) economies of scale allow one firm to supply the entire market at the lowest possible cost. C) a few firms collude to act as a single firm. D) one firm captures all the consumer surplus.
Which of the following indicators will always improve when more variables are added to a regression equation?
A) the magnitudes of the coefficients B) the t-test C) R2 D) the standard errors of the coefficients
Which of the following situations could generate a shortage?
A) Demand for a good increases, resulting in a new higher market clearing price. B) Demand for a good decreases, resulting in a new lower market clearing price. C) Demand for a good increases, but the price is not permitted to rise. D) Demand for a good decreases, but the price is not permitted to fall.