The Federal Reserve district borders follow exclusively state borders
a. True
b. False
B
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If wheat can be produced at a constant opportunity cost, then the supply of wheat is
A) elastic. B) inelastic. C) unit elastic. D) perfectly inelastic. E) perfectly elastic.
If leakages are less than injections, ceteris paribus:
(a) National income will increase. (b) National income will decrease. (c) National income will stay in equilibrium. (d) None of the above.
When marginal cost is greater than average total cost,
A. average fixed cost must be increasing with output. B. marginal cost must be increasing with output. C. average total cost must be increasing with output. D. average variable cost must be decreasing with output.
The exchange rate is the price of
A. An import purchased at the local electronics store. B. An export purchased in a foreign nation. C. One good in terms of another. D. One currency in terms of another.