The Federal Reserve System is organized into
A) one large district covering the entire United States.
B) three districts, one for each of the countries in North America.
C) 12 districts, dividing up the countries in North America.
D) 50 districts, one per state.
E) 12 districts, dividing up the United States.
E
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One reason supply curves have an upward slope is because
A) increased supply will require increased technology. B) to have more of the good supplied requires more firms to open. C) people will pay a higher price when less is supplied. D) a higher price brings a greater profit, so firms want to sell more of that good. E) None of the above answers is correct because supply curves have a downward slope.
Refer to Figure 18-1. Europe experiences an economic boom. Assuming all else remains constant, this would be represented as a movement from
A) C to B. B) D to A. C) D to C. D) B to A.