The discount rate is the rate of interest charged on loans from ________ to ________.
A. commercial banks; the Federal Reserve
B. the Federal Reserve; commercial banks
C. the U.S. Treasury; commercial banks
D. the Federal Reserve; the U.S. Treasury
Answer: B
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In most businesses, there is only one way to produce output.
Answer the following statement true (T) or false (F)
The impact of technological change in the health care area has been to
A) reduce the quality of health care while raising the costs. B) reduce the cost of health care. C) increase the quality of health care while decreasing the costs. D) increase both the quality of health care and the costs of health care.
Tom and Jerry have two tasks to do all day: make dishes and build fences. If Tom spends all day making dishes, he will have make 16 dishes. If he instead devotes his day to building fences, Tom will build 4 fences. If Jerry spends his day making dishes, he will make 14 dishes; if he spends the day building fences, he will build 7 fences. If Tom divides his time evenly between activities and acts efficiently, he will produce:
A. 16 dishes and 4 fences. B. 12 dishes and 3 fences. C. 8 dishes and 2 fences. D. 4 dishes and 3 fences.
The model of perfect competition can be fruitfully used to analyze markets that don't perfectly fit the description of this market type
a. True. b. False.