The Dodd-Frank Wall Street Reform and Consumer Protection Act gives the Federal Reserve the authority to establish a reserve requirement for all financial institutions
a. True
b. False
Indicate whether the statement is true or false
False
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The value of the marginal product of a resource is equal to:
a. the marginal revenue of the firm, if the product market is perfectly competitive. b. the market price of the product divided by the price of the resource. c. the market price of the product divided by the marginal product of the resource. d. the marginal revenue product of the resource, if the product market is perfectly competitive. e. the marginal product of the resource divided by the price of the resource.
If the government levies a $0.25 tax per MP3 music file downloaded on buyers of MP3 music files, then the price received by sellers of MP3 music files would
a. decrease by more than $0.25. b. decrease by exactly $0.25. c. decrease by less than $0.25. d. increase by an indeterminate amount.