The members of Federal Reserve district bank boards of directors appointed by the Board of Governors are known as
A) Class A directors.
B) Class B directors.
C) Class C directors.
D) Class D directors.
C
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In the 2008-09 recession, the percentage of part-time workers due to economic reasons
A) rose to almost 18 percent. B) did not include teenagers. C) equalled the unemployment rate for those who are part-time workers due to non-economic reasons. D) decreased slightly over the period. E) doubled from 3 percent to 6 percent.
During the winter of 2011-2012, the price of fuel oil increased enormously but the quantity demanded decreased only a little. This response indicates that the demand for fuel oil was
A) inelastic. B) elastic. C) unit elastic. D) perfectly elastic. E) perfectly inelastic.
If we were to compare the hourly earnings of union and nonunion workers in recent years, we would find that
A) unions have not succeeded in raising the hourly incomes of their members above nonunion members. B) unions have succeeded in raising the hourly incomes of their members above nonunion members. C) state government unionized employees have earned less in hourly wages than nonunion government employee. D) union members have increased their hourly incomes, but are still below the hourly incomes of nonunion members.
The total variable cost curve increases at a decreasing rate when there are early gains from specialization
Indicate whether the statement is true or false