The Fed
A) distributes Federal Reserve notes, which are paper currency.
B) is responsible for conducting U.S. fiscal policy.
C) has 15 Federal Reserve banks and governing boards in New York and Chicago.
D) is responsible for minting coins.
A
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The table above gives the total revenue and total cost for a perfectly competitive firm producing chocolate chip cookies. If the firm is producing 4 pounds of cookies, to maximize its profit it will
A) increase its output. B) decrease its output. C) continue producing 4 pounds of cookies. D) shut down.
Regulation of monopolies that allows prices to reflect only the actual cost of production and no monopoly profits is referred to as
A) cost-of-service regulation. B) rate-of-return regulation. C) service-opportunity regulation. D) natural regulation.