The agency responsible for regulating the money supply in the United States is
a. the Comptroller of the Currency.
b. the U.S. Treasury.
c. the Federal Reserve.
d. the U.S. Bank.
c
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The first credit card was issued in
A) 1950 by Francis X. McNamara. B) 1958 by Bank of America. C) 1981 by James Tobin. D) 1974 by Citibank.
The increase in welfare in both countries that results from specialization and trade is called:
A. surplus enhancement. B. exportation surplus. C. gains from trade. D. deadweight gain.
According to the aggregate demand and aggregate supply model, in the long run a decrease in the money supply leads to
a. decreases in both the price level and real GDP. b. an increase in real GDP and an increase in the price level. c. a decrease in the price level but does not change real GDP. d. an increase in the price level but does not change real GDP.
Which statement is false?
A. The MC always intersects the ATC at its minimum point. B. The MC always intersects the AVC at its minimum point. C. The MC always intersects the AFC at its minimum point. D. None of these statements are false.