The Federal Open Market Committee
A) meets weekly to set Fed policy.
B) has 7 voting members.
C) always includes the president of the Federal Reserve Bank of New York as a member.
D) does not include any members of the Board of Governors.
C
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Wal-Mart has a limited number of "Black Friday" (the day after Thanksgiving Day) special items on sale at prices well below their typical price. Wal-Mart opens at 10 PM on Thanksgiving. Wal-Mart is using a ________ allocation method for these it
A) first-come, first-served B) market price C) contest D) majority rule E) command
In the figure above, the marginal rate of substitution (MRS) at point A is
A) greater than the MRS at any other point on the indifference curve. B) equals the MRS at all other points on the indifference curve. C) less than the MRS at any other point on the indifference curve. D) equal to the slope of the budget line.