The Federal reserves fed wire system is used mainly to provide:
A. a means for foreign banks to transfer funds to U.S. banks.
B. an inexpensive and reliable way for financial institutions to transfer funds to one another.
C. a means for the Treasury to collect tax payments.
D. an inexpensive way for individuals to pay their bills on-line.
Answer: B
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Suppose the elasticity of labor demand is 1.4. Then a decrease in the wage rate will:
A. Decrease total wage income B. Increase total wage income C. Have no impact on total wage income D. Have an indeterminate impact on total wage income
Some markets have many buyers and sellers but fall into the category of monopolistic competition rather than perfect competition. The most common reason for this is
A) firms in these markets make high profits. B) there are high barriers to entering these markets. C) firms in these markets sell identical products. D) firms in these markets do not sell identical products.
Which region has the highest proportion of its children working?
What will be an ideal response?
In reality international trade is determined solely by comparative advantage and the free market forces of supply and demand
a. True b. False Indicate whether the statement is true or false