Which of the following is responsible for providing currency and cash to banks?
A. The Legislative Branch of government.
B. Comptroller of the Currency.
C. The Federal Reserve System.
D. The U.S. Treasury.
C. The Federal Reserve System.
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The marginal cost of enforcement (MCE)
a. is the additional cost incurred by government to monitor and enforce abatement activity b. is a negatively sloped function c. can be measured as the vertical sum of MACmkt and MSC at any abatement level d. represents the horizontal sum of all polluters’ MAC functions
Figure 3-1
According to Figure 3-1, the opportunity cost of one more bushel of wheat is
A. higher at B than at D. B. lower at B than at D. C. equal at B and D. D. impossible to determine from the information given.
Refer to Table 12.1. The inflation rate forecast for Japan is
A) -0.9%. B) 0.9%. C) 1.1%. D) It cannot be determined from the information provided.
One of the major reasons for the U-shaped average total cost curve is the fact that
A) there are increasing returns from labor regardless of the number of workers employed. B) there eventually are decreasing returns from labor as more workers are employed. C) prices fall as output increases. D) the average fixed cost increases as more output is produced. E) the variable cost decreases as more output is produced.