The New York Federal Reserve Bank
A. president always gets to vote at the FOMC meetings.
B. conducts open market transactions.
C. is one of 12 regional Federal Reserve Banks.
D. All of the above are correct.
Answer: D. All of the above are correct.
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Suppose a firm sells its product in a competitive market. If the ongoing wage rate in a competitive labor market is $30 and the market price of a firm's product is $2, then which of the following statements is true?
A) The firm should continue to hire workers until the marginal product of the last worker hired is 2 units. B) The firm should continue to hire workers until the marginal product of the last worker hired is 5 units. C) The firm should continue to hire workers until the marginal product of the last worker hired is 10 units. D) The firm should continue to hire workers until the marginal product of the last worker hired is 15 units.
Based on this graph, since 1980, national debt has ______.
a. levelled off
b. risen substantially
c. fallen substantially
d. been unusually low