Discount rates are __________ every two weeks by the directors of each regional Federal Reserve Bank but are __________ by the Board of Governors
A) determined; established
B) established; determined
C) recommended; established
D) determined; recommended
B
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Sammy has a drone that he values at $1,500. Frank values the same drone at $1,000. The government offers a subsidy of $800 to the buyers of drones, and Sammy and Frank agree on a price of $1,600. The subsidy creates a deadweight loss of
A) $0 B) $200 C) $500. D) $800.
Suppose a nation opens up to free trade and becomes an exporter of goods. Which of the following is then true?
A) The nation as a whole suffers losses. B) Sellers lose. C) Buyers lose. D) Buyers gain.
We would expect the cross elasticity between tennis racquets and tennis balls to be:
a. negative. b. positive. c. zero. d. one. e. infinite.
A consumer is making purchases of products Alpha and Beta such that the marginal utility of product Alpha is 30 and the marginal utility of product Beta is 40. The price of product Alpha is $5 and the price of product Beta is $10. The utility-maximizing rule suggests that this consumer should: