Open market operations are conducted by the __________.
Fill in the blank(s) with the appropriate word(s).
Federal Open Market Committee
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Who benefits the most from competitive markets?
A. Consumers B. Producers C. The government D. Investors
Suppose a manufacturer of software develops a new computer program that sells for $50. The $50 cost includes $0.25 for the CD it is stored on, $5 for the labor of the company software programmers, and $1.75 for packaging materials and transportation costs. Value added by the software company is
A) $49.75. B) $48.25. C) $48. D) $44.75.
Scott used $4,000,000 from his savings account that paid an annual interest of 5% and a $60,000 loan at an annual interest rate of 5% to purchase a hardware store. After one year, Scott sold the business for $4,100,000 . His economic profits is:
a. $300,000 b. $100,000 c. $97000 d. None. He runs an economic loss of $103,000
In the vertical segment of the aggregate supply curve,
a. different levels of GDP correspond with high unemployment. b. competition among producers for already-employed resources can succeed only in lowering the economy's price level. c. full employment is achieved. d. producers are able to hire more workers at lower wages. e. increases in GDP are due solely to production gains.