The members of the Federal Open Market Committee are
A. the seven members of the Fed's Board of Governors and five of the Federal Reserve bank presidents.
B. the Treasury secretary, the head of the Federal Deposit Insurance Corporation, and the Comptroller of the Currency.
C. the President, the Speaker of the House of Representatives, and the Senate Majority Leader.
D. the five top officials at the Federal Reserve Bank of New York's Trading Desk.
Answer: A
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A firm's total cost of production is the
a. employees' opportunity cost b. owners' opportunity cost c. owners' opportunity cost minus the employees' opportunity cost d. owners' opportunity cost plus the employees' opportunity cost e. employees' opportunity cost minus the owners' opportunity cost
Entry leads to higher prices and profits in an industry.
Answer the following statement true (T) or false (F)
Which of the following does NOT describe the intended purpose of the antitrust laws of the United States?
A. to prohibit certain economic activities that promote trade B. to reduce the power of monopolies C. to promote competition within the economic system D. to restrict the formation of monopolies
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, as the economy moves from Point B to Point D, the opportunity cost of motorcycles, measured in terms of hybrid cars,
A. increases B. remains constant. C. initially increases, then decreases. D. decreases.