Variable inputs are defined as any resource that:
A. varies with the size of the firm's plant.
B. cannot be changed as output changes.
C. can be changed as output changes.
D. can be increased or decreased hourly.
Answer: C
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Which of the following is not true about the members of the Federal Reserve Board of Governors?
A. They are appointed to fourteen-year terms by the president of the United States. B. They are relatively immune to short-term political pressures. C. They may not be reappointed after serving a full term. D. They each serve as chairman of the Board of Governors on a rotating basis.
If the stock market booms, then
a. aggregate demand increases, which the Fed could offset by increasing the money supply. b. aggregate supply increases, which the Fed could offset by increasing the money supply. c. aggregate demand increases, which the Fed could offset by decreasing the money supply. d. aggregate supply increases, which the Fed could offset by decreasing the money supply.