Which of the following is not a goal of the Fed?
a. Maintaining a high level of employment
b. Maintaining stability in interest rates
c. Maintaining high prices to encourage production
d. Maintaining stability in financial markets
e. Maintaining stability in foreign exchange markets
c
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In the United States for the year 2012, the federal government had a ________ so the national debt was ________
A) budget deficit; increasing B) budget surplus; increasing C) budget surplus; decreasing D) balanced budget; not changing E) budget deficit; decreasing
The more substitutable capital and labor are in production, the more likely it is that the cross-price demand curve for capital (relative to the wage) is upward sloping.
Answer the following statement true (T) or false (F)
An economy with only a domestic sector is called:
A) a mixed economy. B) an open economy. C) a closed economy. D) a command economy.
Refer to Figure 9.1. The firm's profit stays the same whether it produces:
A. 0 or 50 units of output.
B. 50 or 85 units of output.
C. 0 or 85 units of output.
D. 0, 50 or 85 units of output.