Headquartered in Washington, D.C., the Board of Governors of the Federal Reserve determines monetary policies and strategies based on the state of the economy
Indicate whether the statement is true or false
TRUE
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Monopolies exist due to
A) patents. B) government franchises. C) cost factors. D) all of these choices contribute to the power of a monopoly.
If insurance companies knew how risk-averse their customers were:
A. diversification would not occur. B. risk pooling would not occur. C. policies would be perfectly diversified, resulting in lower premiums for everyone. D. adverse selection would not occur.
Britain imports some goods and exports other goods primarily because of:
A) free goods. B) specialization. C) unemployment. D) self-sufficiency.
The benefits to the United States of outsourcing include all of the following except
A. Foreign firms insource or send jobs to the United States. B. U.S. productivity rises, resulting in higher profits at U.S. firms that outsource. C. Greater domestic investment by U.S. firms that outsource. D. Higher domestic labor cost for U.S. firms.