All the following statements about the Federal Reserve are true EXCEPT the fact that it ________
A) is a public authority
B) regulates a nation's depository institutions
C) accepts checking deposits from the nation's residents
D) controls the quantity of money
C
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According to the ____ view, a nation’s wealth consists of the amount of gold or other monies at its command.
A. Keynesian B. free trade C. mercantilist D. monetarist
The pleasure, satisfaction, or happiness obtained from consuming a good or service is known as ___________
Fill in the blank(s) with the appropriate word(s).
For a firm in a perfectly competitive industry
A. short-run economic profits must be zero. B. both short-run and long-run economic profits may be negative. C. short-run economic profits may be positive, but long-run economic profits must be zero. D. short-run and long-run economic profits must be zero.
The upward-sloping portion of the perfectly competitive firm's average total cost curve is the firm's short-run supply curve.
Answer the following statement true (T) or false (F)