Central banks around the world that are ________ are least effective.
A. run by those appointed for extended terms
B. run by those appointed by elected officials
C. independent of political influence
D. subject to directives from elected (or dictatorial) officials
Answer: D
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Welfare reform in the U.S. was designed to change an entitlement program into a program that __________.
a. requires work in exchange for assistance for a limited time b. encourages those with lessor abilities to remain out of the work force c. helps low income families retain a sense of community
Comment on the following statement: "A firm with market power is able to charge any price it likes."
What will be an ideal response?
Which of the following will not cause a change in demand for crackers?
a. A change in consumers' income. b. A change in the price of crackers. c. A change in the price of cheese. d. A change in the number of cracker-eaters. e. A change in consumers' tastes for crackers.
In the short run where total variable cost is _________ at a(n) _________ rate, marginal cost is positive and decreasing.
A) increasing; increasing B) increasing; decreasing C) decreasing; increasing D) decreasing; decreasing