Each of the Reserve Banks has a president who is:
A. appointed by the bank's board of directors but approved by the board of governors.
B. appointed by the board of governors but approved by the bank's board of directors.
C. selected from the Board of Directors.
D. elected by the commercial banks in their district.
Answer: A
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Refer to Table 9-12. If the actual terms of trade are 1 belt for 1.5 swords and 50 belts are traded, how many swords will Estonia gain compared to the "without trade" numbers?
A) 25 B) 75 C) 100 D) 125
If an automobile manufacturer has an agreement with its air bag supplier, this is an example of a ________ agreement.
A) rightward B) vertical C) horizontal D) leftward
Pure public goods:
A. are, by definition, goods and services provided by the government. B. should always be provided by government. C. should always be provided by private firms. D. are frequently provided by the government, and are sometimes provided by private firms.
If the price of an input decreases, each individual firm?s marginal cost curve shifts ________ and the industry supply curve ________.
A. up; shifts to the left B. up; does not change C. downward; shifts to the right D. downward; shifts to the left