Which statement is true?
A. We have had a central bank since 1789.
B. We have never had a central bank.
C. Our central bank was formed in 1913.
D. We did not have a central bank prior to the Federal Reserve.
C. Our central bank was formed in 1913.
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The demand for the Franconian franc in the foreign exchange market equals 14,000 - 3,000e and the supply of francs in the foreign exchange market equals 2,000 + 2,000e, where e is the nominal exchange rate expressed in U.S. dollars per franc. If the franc is fixed at 3 U.S. dollars per franc, then to maintain this fixed rate Franconia's international reserves must:
A. increase by 3,000 francs per period B. decrease by 9,000 francs per period C. increase by 9,000 francs per period D. decrease by 3,000 francs per period
In general, the substitution effect of an increase in the price of a normal good:
A. will cause the individual to buy more of that good because they have relatively more income. B. will cause the individual to buy less of that good because they have relatively less income. C. will cause the individual to buy more of that good and less of others because it is relatively less expensive. D. will cause the individual to buy less of that good and more of others because it is relatively more expensive.
When will a shortage occur in a market?
a. When the actual price is lower than the equilibrium price b. When quantity supplied is greater than the equilibrium quantity c. When the quantity that consumers are willing and able to purchase decreases d. When the quantity available at zero price is insufficient to meet demand e. When a price floor is set in the market
What percentage of American has a favorable opinion of government workers?
a. 20% b. 50% c. 70% d. 90%