This group consists of seven members appointed by the President of the United States for 14-year terms
A) the presidents of the Federal Reserve Banks.
B) the members of the Federal Open Market Committee.
C) the members of the Board of Governors of the Federal Reserve System.
D) None of the above answers are correct.
C
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A tradeoff is illustrated by
A) a point inside the PPF. B) a point outside the PPF. C) a change in the slope of the PPF. D) the negative slope of the PPF.
Which of the following is a factor of production?
A) an acre of forested land B) $25,000 in cash C) a U.S. Treasury bond D) 20 shares of Ford stock
The marginal propensity to consume plus the marginal propensity to invest equal one
Indicate whether the statement is true or false
Consumption depends on:
A. pre-tax income. B. total income. C. disposable income. D. Consumption is unrelated to income.