The Federal Reserve System is under the strict control of
a. the executive branch
b. the legislative branch
c. the judicial branch
d. the International Monetary Fund
e. none of the above
E
Economics
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Average cost is
a. Total variable cost divided by total units produced b. Total fixed cost divided by total units produced c. Total cost divided by total units produced d. Equal to marginal cost
Economics
If air travel and bus travel are substitutes,
a. an increase in the price of bus travel will decrease the demand for air travel. b. a decrease in the price of bus travel will decrease the demand for air travel. c. an increase in the price of bus travel will generally have no effect on the demand for air travel. d. an increase in the price of bus travel will shift the demand curve for air travel to the left.
Economics