The Federal Open Market Committee has _____ members.
A. 7
B. 10
C. 12
D. 14
C. 12
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Automobile companies typically make some of the parts for cars (for example, the body and engine) but not others (for example, the tires). Under what conditions would you expect an automobile manufacturer to be most likely to buy inputs from other companies?
a. when the specifications (size, style, etc.) of the inputs change frequently b. when the inputs being produced have little value c. when market prices have not been established for the inputs d. when it is relatively easy to measure the quantity and quality of the input
Recall the Application about the decrease in the price of wool in the 1990s to answer the following question(s). In the 1990s, the world price of wool decreased by about 30 percent and prices have remained relatively low since then. In 2012, an organization in New Zealand proposed that sheep shearing be added to the Commonwealth Games and the Olympics as a spectator sport in an effort to increase the awareness and the demand for wool.Recall the Application. As the world price of wool decreased, the quantity of wool supplied by individual ranchers would ________, and the quantity supplied in the world market would ________.
A. increase; increase B. increase; decrease C. decrease; decrease D. decrease; increase
Output Total Cost015125233340448558670
Refer to Table 5.5. The average variable cost of producing five units of output is:
A. $0. B. $8.60. C. $10. D. $11.60.
Domestic monetary policy is essentially useless under
A. a floating exchange rate system. B. a fixed exchange rate system. C. the gold standard. D. conditions of balance of payments surpluses.