Which of the following is an accurate statement regarding the evolution of the Federal Reserve System?
A) The independence of the Federal Reserve has been systematically eroded by legislation.
B) The Federal Reserve has shifted from an agency controlled by the states to a federally controlled agency.
C) The Federal Reserve has shifted from a fiscal policy agency to a monetary policy agency.
D) The Federal Reserve has shifted from a regional service agency to a national policy-making institution.
D
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Total product divided by the total quantity of labor employed equals the
A) average product of labor. B) marginal product of labor. C) average total cost. D) average variable cost.
Negative income tax plans have the advantage of increasing work incentives in comparison to existing welfare programs without work incentives
a. True b. False Indicate whether the statement is true or false