The central bank of the United States is:
A. the Bank of the United States.
B. the Treasury.
C. Old Lady of Threadneedle Street.
D. the Fed.
Answer: D
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Technical innovation spurs economic growth because it
A) increases labor productivity. B) increases the stock of capital goods. C) provides more powerful means of production. D) does all of the above.
Value maximization means
A) that managers make decision so as to increase the long-run market value of the financial claims on the firm. B) that a firm should make products that have the highest price. C) that managers make decision so as to increase the short-run market value of the financial claims on the firm. D) all of these choices.
When sketched as a function of national income, the investment curve is
a. horizontal b. vertical c. upward sloping d. downward sloping e. parabolic
Thomas Jefferson and James Madison
a. were instrumental in the creation of the First Bank of the United States b. originally came up with the idea for the Federal Reserve System c. changed the U.S. currency from the dollar to the British pound to avoid financial panic d. opposed the idea of a central bank because they believed it was unconstitutional e. served as governors on the first Board of Governors